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FINANCIAL NEWS
Al Thamarat Egypt Association to start charity fund at USD 0.62mn
14 Feb 2016
(MENAFN) Al Thamarat Charity Association is planning to launch a charitable fund to advantage from new regulations from the Ministry of Investment in Jan.
Accordingly, the association is waiting the Egyptian Authority to issue the main model of charitable investment funds to make trading controls and to move ownership of documents.
Furthermore, the decree of the fund will depend on the employment of 90 percent of its investments in debt instruments like treasury bonds and bills.
Charity institutions are not the founding core of charitable investment funds but the recipient of incomes realized by the fund, which would require a minimum capital of USD 0.62mn.
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