Cabinet forms NI Capital Egypt for asset management

The Egyptian Cabinet has completed establishing NI Capital Company, part of the National Investment Bank (NIB), Minister of Planning Ashraf El-Araby stated Saturday.

The newly-founded company is tailored for financial consultancies and assets management.

During the press conference held Saturday, the minister added that governmental and public authorities will depend on the new company in making feasibility studies.

He stated that the company  is set to be the consulting authority for the government as an alternative for or a partner with the international firms.

NI Capital will also manage governmental funds notably Amlak sovereign investment fund besides applying the best separation of ownership and management systems.

The Egyptian government has succeeded to attract the best expertise in this field to join the new company, El Araby noted.