Two funds of 600 million directed at Egypt's financial market

Leaders of the Egyptian finance market agreed on establishing two new investment funds worth 600 million Egyptian pounds to activate the Egyptian financial market.

Egypt's Ahli Bank will manage the first fund, in which Cairo Bank will participate and four insurance companies with a capital of 300 million pounds, while the second fund will be directed by Bank Misr, with the participation of Alexandria Bank and a group of investors.

Mahmoud Abdul Aziz, the head of the Egyptian Bankers' Union, told ArabicNews.com today that these funds will start their works in the middle of October.