EFG Hermes awaits regulatory approval to manage EGP 100m funds

By: Heba El Kordy

Cairo – Mubasher: EFG Hermes Company is expected to obtain the regulatory approvals to manage Islamic funds within a month.

These funds could exceed EGP 100 million in value, managing director at EFG Hermes Asset Management Khalil El Bawab told Mubasher on Tuesday.

Over the previous period, the Egypt-listed investment bank was seeking to acquire the right to manage three state-run funds, El Bawab revealed.

The Central Bank of Egypt (CBE) may cut key interest rates by 1% in May, which will have a positive effect on investment funds, the top official noted.

 

Translated by: Muhammad Khalid

Mubasher Contribution Time: 17-Apr-2018 14:37 (GMT)
Mubasher Last Update Time: 17-Apr-2018 14:52 (GMT)

Request a Trial

Title:*
First Name:*
Last Name:*
Job Title:*
Phone:*
Company:*
Email:*
Country:*
Comments:
*Required Fields
 
Submit

Already Registered?

Username/ Email:
Password:
 
Login
Support & Feedback
Ask for free trial