Presidential decree to transfer ownership of Misr Insurance Holding to TSFE

The Official Gazette in Egypt published President Abdel Fattah al-Sisi’s decision to transfer ownership of 100 percent of the shares of Misr Insurance Holding Company to The Sovereign Fund of Egypt (TSFE).

Informed sources told Al-Masry Al-Youm that the decision comes in the aim of accelerating the procedures of IPOs program on the stock exchange, or for a strategic investor in companies affiliated with Misr Insurance Holding Company.