A new investment fund in Egypt next week

During the coming week the international Egyptian Delta Bank is to tackle the files and paperwork of its first investment fund with a capital amounting to $50 million.

This fund is considered the second largest fund in service after the Ahli Bank's fund.

Former Egyptian minister of economy and the head of the bank's board of directors, Ali Negm, told ArabicNews.com that they have completed the measures for the fund's establishment and obtained the approval of the financial market department and central bank, adding that the Egyptian financial group Hermis will manage this fund, in which the nominal value of each share will be 500 L.E.