Ahli United Bank Gets Approval To launch Alpha Fund In Nov.

Ahli United Bank (Egypt) received a final approval from the Central Bank of Egypt (CBE) and the Egyptian Financial Supervisory Authority (EFSA) to launch Alpha Fund by the beginning of next month.

The fund, managed by Cairo Holding for Financial Investment, has an initial capital of EGP 25 million, sources said.

Apha fund is AUB’s second investment fund after launching its Wealth Investment Fund that invests in fixed-income instruments. Subscription in the fund reached EGP 220 million. Wealth Investment Fund is also managed by Cairo Holding for Financial Investment.