Global Courant 2023-05-24 12:31:14
The entities receiving subscriptions to the Egyptian Gold Investment Fund will continue to receive those wishing to invest in gold electronically and by visiting the head office.
Some entities allow those who want to invest to contract without being coded on the exchange, while others require that the process of encryption be done first and a 009 account opened to invest in mutual fund documents.
Money market expert Ehab Rashad said there has been a noticeable interest from clients in subscribing to Gold Investment Fund documents since the subscription process began on Sunday.
According to the fund manager, the purchase is free of charge, while the redemption fee is 4.9 percent, unless three years have passed since the purchase, and after the three-year period has expired, redemption is free of charge.
He explained that the cost is equivalent to the cost of gold to the investor when buying on the market.
Egypt’s financial regulatory authority announced on Sunday the creation of the country’s first fund to invest in gold, improve financial and investment inclusion and build an advanced non-banking financial sector that is inclusive and fuels economic growth.