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The Egyptian Cabinet stressed that the experiment of establishing gold investment funds, as part of its efforts to build an advanced non-banking financial sector, represents an important step towards enhancing financial and investment inclusion in Egypt.
The Council explained in a statement today that these funds aim to provide a safe investment environment and diverse savings opportunities that meet the needs of different segments of society, noting that they allow investors to purchase documents used to invest in gold through licensed banks and companies.
He pointed out that gold investment funds offer advantages such as diversifying investment options, improving levels of financial inclusion, in addition to enhancing regulation and oversight of citizens’ investments in gold. He noted the World Gold Council’s praise of the Egyptian experience in transforming gold into an easy-to-trade investment tool.
The statement added that the investment funds achieved great achievements until August 2024 after the net assets of the “AZ-Gold” fund increased to 825.6 million pounds and the number of investors in it reached 131 thousand, while the net assets of the “Beltone Evolve” fund reached 63.6 million pounds, and the net assets of the “Dahab” fund reached 35.8 million pounds.
