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The Egyptian Financial Supervisory Authority (EFSA) approved on Saturday investments of 845 million Egyptian pounds ($48.7 million) in favour of private insurance funds last February.
Earlier, the investments stood at 1.9 billion pounds during February 2018.
“The private insurance funds’ investments marked a 55.5 percent decline or around 1.05 billion pounds last February,” EFSA said in its monthly report.
These investments represent the saving certificates of the National Bank of Egypt A and B, besides its banking deposits and investment policies, in addition to public debt instruments, including treasury bills and bonds.
