The head of the Egyptian Financial Regulatory Authority, Mohamed Farid, announced that "Egypt is currently working on launching a third gold investment fund through one of the affiliated companies of the National Bank of Egypt." He added that "the number of clients of the existing gold investment funds in Egypt has exceeded 102,000 clients." Farid noted that "the authority has successfully created a general climate and a suitable environment that allowed for the launch of the first gold investment fund as one of the investment alternatives that provide citizens with diverse investment opportunities."
During a meeting with a delegation from the World Gold Council, he stated that these funds represent an important step in enhancing the Egyptian government's efforts to achieve financial inclusion. Individual investors can purchase gold through these funds, with investment amounts starting from 100 Egyptian pounds, and payments can be made through all electronic and traditional methods.
Kurtulus Taskil, Director of Central Banks and Public Policy at the World Gold Council, remarked that "Egypt's experience in launching gold investment funds deserves commendation, given its focus on transforming gold from merely a commodity into an easily tradable investment tool."
