The number of Egyptian citizens who applied to invest in the country’s two gold investment funds reached 108,808 at the end of April 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 the AZ-Gold Fund by Azimut Company, which was launched in May 2023, and the Beltone Evolve Gold Fund (Sabayek), which was launched in last January.

Farid pointed out that the government is currently studying the possibility of launching a third gold investment fund affiliated with a subsidiary of the National Bank of Egypt (NBE).

In April, it was announced that Evolve Investment Holding was planning to launch a gold investment fund for a subsidiary of the NBE by the end of May.

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