Gold investment funds in Egypt attract over 102,000 applicants until end-March

Reuters

Investing in these funds allows individual investors to purchase gold even if they possess only EGP 100 or EGP 200

Staff Writer, Arab Finance

April 18, 2024

PHOTO

The number of Egyptian citizens who applied to invest in the country’s two gold investment funds has reached 102,925 at the end of March 2024, according to a report submitted by the Financial Regulatory Authority’s (FRA) Chairman Mohamed Farid to Prime Minister Mostafa Madbouly.

The two funds are AZ-Gold fund by Azimut Company, which was launched in May 2023, and the Beltone Evolve Fund to invest in gold bars, which was approved to launch in 2024.

Investing in these funds allows individual investors to purchase gold even if they possess only EGP 100 or EGP 200, Farid added.

He noted that these funds aim to foster the country’s efforts to enhance financial inclusion.

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