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Tuesday, 28 June 2016

Ministerial committee to conduct studies on sovereign wealth fund Amlak

A ministerial committee is set to work with local and international advisory bodies to conduct economic, financial, and administrative studies on Egypt’s proposed sovereign wealth fund Amlak, Al Borsa reported on Monday. EGP 5 bn has been already earmarked for the fund in FY2015/16’s budget. The fund will be state-owned through the National Investment Bank and will “encourage diversification and support sustainable economic and social development,” the cabinet said when it was first announced.

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