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Tourism Assistance Fund aiming for 25% annual returns: Investment manager

Egypt’s Tourism Assistance Fund is looking for annual returns of 25% on investments, or $250m in the first phase of underwriting, according to Amr Askar, investment manager at Cairo Financial Holding. The first phase will take place directly after the Egyptian Financial Supervisory Authority (EFSA) adopts the prospectus. Askar added in a statement to Al-Borsa …

Daily News Egypt

Egypt regulator rets rules for index, real estate funds

Reuters – Egypt’s financial market regulator, seeking to attract capital back to the stock market, has released rules to facilitate the creation of index and real estate funds as well as amendments to margin trading rules. Sherif Samy, head of the Egyptian Financial Supervisory Authority, said the changes would increase liquidity in the market and …

Daily News Egypt

News of Sukuk issuance agreement creates confusion among Islamist parties

The Ministry of Finance’s head of the Public Debt Unit, Samy Khallaf, declared that a preliminary agreement has been reached with 10 international investment banks to carry out the procedures of issuing the first Egyptian Islamic Sukuk in international markets. The value of the projected Sukuk, Khallafa dded, would range from $750 million to $1 …

Islam Serour

Beltone’s New Dawn conference reinforces government’s vision

Under the auspices of Prime Minister Hisham Qandil, Cairo-based Beltone Financial Holding launched a three-day conference on the future of investment in Egypt, titled New Dawn. The conference aims to provide a platform for discussion presenting delegates from regional and global sovereign funds, investors, and institutions the opportunity to meet the government’s top officials, political …

Islam Serour

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