Dr. Ashraf Al-Sharkawy, the chairman of Egyptian Financial Supervisory Authority (EFSA), has asserted that the authority awaits any suggestions or requests regarding establishing mutual funds for the Egyptian market.
Al-Sharkawy has stated that the EFSA had received neither suggestions nor requests from the Arab African Holding Company so as to establish Gold fund as the latter claims.
“EFSA adopts all ideas and suggestions made by such firms and employees working in the field of securities as they are put under consideration until being applied in case of their effectiveness on the market.” Al-Sharkawy added
“Mutual funds are one of the major tools to support the capital market. The more mutual funds we can get, the better and more active value and volume of trades the market will witness.”
