1st Charitable Investment Fund to Support People with Disabilities Launched

The first charitable investment fund was launched today to support people with disabilities.

It is consider the first of its kind in Egypt, a development of the idea of charitable endowment, in which the investment fund documents are subscribed at 10 pounds per document to be presented to the public, companies and organizations and recovered by its owner after three years.

The Return On Investment (ROI) shall be used to support people with disabilities.

Ghada Wali, the Social Solidarity minister and Chairman of Nasser Social Bank, witnessed the launching.

Noteworthy, the IPO door will start on Tuesday, November 5, 2019, and is expected to contribute by the Egyptian society is always quick to contribute to the community of those who trust them.

Dr. Sherif Farouk, Deputy Chairman of Nasser Bank and a member of the Directors Board of Fund, said that a specialized investment management company, operating under the supervision of the Egyptian Financial Supervisory Authority, has been contracted to manage the Fund and achieve the best return.

Farouk added that Azimut Egypt Fund Management Company waived its fees in support of the fund's mission.

In addition, the Fund will be committed to the highest levels of governance and transparency, and the directors’ board will issue an annual report of its activity and publish its financial statements. There will be regular meetings to attend the Fund policyholders.

On other hand, the Fund will set up a website that includes everything related to its charitable and social work.