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Monday, 30 April 2018

Egypt’s sovereign wealth fund to be given financial and legal independence

LEGISLATION WATCH- Egypt’s sovereign wealth fund to be given financial and legal independence: Egypt’s new sovereign wealth fund and any subsidiary under it would not be subject to local business laws, according to Al Mal’s reading of a draft of the law establishing the fund. Other aspects of the law include making the fund an independent body with its own budget, presumably separate from that of a state budget.

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