• Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 17, 2025
itida
Egyptian Gazette

Editor-in-Chief

Mohamed Fahmy

Board Chairman

Tarek Lotfy

  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
Egyptian Gazette
No Result
View All Result
Home OP-ED

Gold investment: No ingot necessary, just documented proof of ownership

Themes

by Mohamed Fahmy
May 23, 2023
in OP-ED
Mohamed Fahmy

Mohamed Fahmy

Share on FacebookWhatsapp

Gold is the safe bet for Egyptians to protect their savings amid the successive economic ups and downs and the shrinking value of the Egyptian pound against US dollar as a result of the conflict in Ukraine.

A recent report by the World Gold Council highlighted the recent scramble for gold coins and ingots in Egypt.

Demand for gold here doubled to 7 tons in Q1 2023, making this country the fifth largest customer for the precious metal.

As more Egyptians want to invest in gold, the General Authority for Financial Control (GAFC) announced the launch of the Gold Investment Fund.

The gold Investment Fund is a license granted by the Financial Regulatory Authority (FRA) authorising a firm to sell gold investment documents backed by gold reserves through dealing with companies that buy, sell, store and secure gold savings. The company must be FRA licensed to guarantee customer trust.

The fund will give investors an alternative to investing in gold without having to buy the metal, thus controlling the traditional gold market, increasing transparency and protecting investors from fraud whether buying or selling.

The fund will issue the investor with a document, stating how many grammes the buyer possesses. Small investors can purchase small quantities without the need to buy an ingot.  Moreover, the fund aims to diversify investment and savings options to meet the various needs of all categories of investors and expand financial inclusion.

The fund has come at the right time as local gold prices fluctuate due to high demand and shrinking supply.

The fund allows the purchase of gold from mining companies which produce only ingots. The company authorised by the FRA then sells gold investment documents. Therefore, intermediary operations have become limited, bringing balance and transparency to the market.

The launch of this fund will strengthen Egypt’s position as of the most important financial markets in the region. It is also evidence of the state’s continued efforts to develop the non-banking financial sector and nurture a diversified and suitable investment environment.

The gold investment fund provides secure custody services at accredited locations registered with the General Authority for Financial Supervision. This ensures the protection of investors’ gold holdings from theft or damage, bolstering trust and safeguarding their assets. Investors can choose between cash or in-kind refunds, providing flexibility in managing their investments.

This fund is new to Egyptian society, so the media can create public awareness of the advantages of investment in gold investment.

Mohamed Fahmy is the editor-in-chief of The Egyptian Gazette and Egyptian Mail newspapers

Tags: EgyptFRAGold investment

Discussion about this post

egyptian-gazette-logo

The Egyptian Gazette is the oldest English-language daily newspaper in the Middle East.
It was first published on January 26, 1880 and it is part of El Tahrir Printing and Publishing House.

Follow Us

Gazette Notifications

Would you like to receive notifications on our latest news ?

  • Advertise
  • Privacy & Policy
  • Contact

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.