FRA’s launches 1st gold fund in Egypt

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The move is part of the FRA’s plans to support the government’s efforts to boost financial and investment inclusion

Staff Writer, Arab Finance

May 15, 2023

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The Financial Regulatory Authority (FRA) has launched the first minerals investment fund following its approval to establish the first gold fund earlier this month, the authority stated on May 14th.

The move is part of the FRA’s plans to support the government’s efforts to boost financial and investment inclusion and develop an inclusive non-banking financial sector with a catalytic role in enhancing the economy.

The FRA has issued the regulatory and legislative framework of the fund, Chairman of the FRA Mohamed Farid said.

The fund will be run by Evolve Azimut, a joint venture between Evolve Holding and Azimut Egypt.

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