The launch of Egypt’s first domestically listed
exchange traded fund (ETF) is imminent. Following an eight-year
struggle to bring it to market, its architects are hopeful that
it will attract new investment to fund Egypt’s
Beltone Financial, a Cairo-based financial services group,
granted the first licence to create an ETF in Egypt on
April 28. The fund, known as XT-Misr ETF, is expected to debut
in the next two weeks.
Egypt’s economy has been battered by more than
three years of political and economic turmoil following the
toppling of former president Hosni Mubarak in February 2011.
The new investment vehicle is a key part of efforts to rebuild
the country’s economy and restore investor
As the population goes to the polls for presidential
elections, and with parliamentary elections expected later this
year, Aladdin Saba, the chairman of Beltone Financial, said the