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The Egyptian Arab Land Bank (EALB) has launched a new investment fund in the first quarter of the next fiscal year.
The bank’s officials will meet in the upcoming period to determine the sector that the fund will invest in; whether in investment policies or real estate investment, said Mohamed El-Baik, head of funds and financial institutions department at the bank.
EALB’s first fund was six times oversubscribed at EGP 303 million, he added. The bank’s investments in treasury bills and bonds reached EGP 3.8 billion. The bank’s outstanding dollar-denominated treasury bills portfolio reached US$ 40 million, he added.
