Egyptian bourse grants Beltone Financial first ETF licence | Egyptian bourse grants Beltone Financial first ETF licence -
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Egyptian bourse grants Beltone Financial first ETF licence

: Tuesday, April 29 - 2014 @ 00:07

Beltone Financial has received from Egypt’s stock exchange the country’s first licence for exchange traded funds (ETF), with trading set to commence within six weeks, Reuters has reported. “The infrastructure and the regulations relating to the index funds are ready for work and within six weeks we can see trading of index funds papers on the bourse,” said the bourse’s head, Mohamed Omran. Beltone Financial was the first company to express interest in ETFs, which are listed investment funds, and is launching a fund called XT-Misr that mirrors the performance of the country’s EGX 30 stock index.

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Tuesday, April 29- 2014 @ 0:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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