Egypt opens subscription in 'Seyola' cash fund, targets up to EGP 100 mln investments

Egypt announced on Sunday the rolling out of subscription in 'Seyola' cash investment fund, which is its first cash fundthat allows to invest in in number of financial instruments.

The targeted investments through the fund is EGP 50 up to EGP 100 million.

On Friday, Hala El Said, Minister of Planning and Economic Development and Chairperson of the Board of Directors of the National Investment Bank (NIB), announced that NI Capita company, the NIB's investment arm,  has launched a "Seyola" fund, which came within the framework of the strategy of the company to reinforce its role in achieving financial inclusion and developing the capital market. 

a El-Said expounded that the targeted issue sums will be invested in liquid financial and short-term instruments, including bonds; T-bills; banking deposits; financing bonds; saving certificates and other investment funds documents.