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Misr Insurance Company’s investments in the Egyptian stock exchange rose 212 percent to record 5.3 billion Egyptian pounds ($294.5 million) at the end of 2016, the company’s investment chief executive on Saturday.
In 2015, investments stood at 1.7 billion pounds, Ahmed Mostafa further told Amwal Al Ghad.
Mostafa attributed the rise to the application of the accounting standards on inactive shares so that assets would be assessed in accordance with the fair market value instead of the book value.
