Egypt launches 1st Gold Investment Fund

Egypt launches 1st Gold Investment Fund

Egypt’s Financial Regulatory Authority approved the establishment of the nation’s first fund to invest in gold, enhance financial and investment inclusion, and build an advanced non-banking financial sector that is inclusive and stimulates economic growth.

What is a gold investment fund?

The Gold Investment Fund is a license granted by the FRA to a company to sell gold investment documents backed by gold reserves through dealing with companies that buy, sell, store and secure gold savings.

The company must be licensed by FRA, as this guarantees for the customer the highest levels of trust, transparency and protection of his gold savings.

According to Ahmed Abul-Saad, an expert in fund management and stock portfolios, the steps to invest in gold investment documents are as follows:

1- Open an account and submit a purchase request with the recipient parties, including Azimut Egypt for managing funds and securities portfolios, and a number of securities trading companies.

2- Money transfer.

3- The recipient parties transfer the money into az-gold documents

Steps to recover investment documents in gold:

1- Submit a refund request to the aforementioned recipients.

2- Determine the cash or in-kind refund.

3- Refund and settlement within two working days for liquidation.

4- Receipt of gold with a minimum of 50 grams.

Gold investment fund details

According