200 million pounds.. The gold investment fund collected them from 32,000 investors

Within several weeks of its launch, the gold investment fund registered 32,000 investors with an amount close to 200 million pounds.

while Ahmed Abul-Saad, CEO of Azimut Egypt Group, confirmed that subscriptions are witnessing a weekly increase.

Gold investment

Abu Al-Saad said in press statements that the gold investment fund was able to attract many small investors who had the desire to subscribe to gold and did not have the opportunity due to the lack of liquidity.  He added that the coming period will focus on the institutional aspect of investing in gold.

Investment fund

 He continued: «A new idea of its kind was thought of, which is the establishment of an investment fund for Egyptians abroad that collects subscriptions in foreign currency and invests in foreign currency in Egyptian sovereign bonds, and therefore the returns are in foreign currency and at the same time the original amount returns in foreign currency, and an investment vessel was provided that provides returns that may reach double the returns that they get  on it in the country of exile».

Attract the savings of Egyptians abroad

Ahmed Abul-Saad confirmed that the state seeks to attract the savings of Egyptians abroad into a bank in light of the multiple economic challenges and to try to restore confidence again in the Egyptian economy, referring to the cooperation of the Ministries of Immigration and Social Solidarity to attract more social benefits for Egyptians abroad, and the idea of the fund came during the protection session.  Social and insurance for Egyptians abroad at the Egyptians Abroad Conference in its fourth edition.

He disclosed the granting of additional insurance benefits, in cooperation with Misr Takaful Insurance Company - Hayat, to create an insurance cover for policyholders, covering many risks: life insurance, partial injury compensation, partial and total disability, death compensation, and transportation of bodies from abroad in cases of death.  Others are the payment of legal aid costs, and the payment of blood money

 He continued, "Here, Egyptians abroad benefited from achieving a high return and great insurance benefits that protect them from multiple risks, which increases their bond with their homeland."

Abu Al-Saad: “We are now in the stage of obtaining initial approvals with Nasser Social Bank from the investment committees and boards of directors, in preparation for applying to the Financial Regulatory Authority to obtain its approval and launch the fund.”