Egyptian Exchange (EGX) Chairman Islam Azzam said on Thursday that Egypt's gold investment funds have seen rapid growth this year, with total net assets climbing 276 per cent to 3.16 billion Egyptian pounds by the end of September since the start of 2024. Egyptian Exchange (EGX) Chairman Islam Azzam said on Thursday that Egypt's gold investment funds grew sharply since start of 2024, with total net assets rising 276 per cent to 3.16 billion Egyptian pounds as of the end of September. Speaking at the 64th Annual Conference and General Assembly of the World Federation of Exchanges (WFE) in Istanbul, Azzam said the strong performance reflects rising investor confidence in gold-backed financial products as a safe and balanced investment option. Egypt's market now hosts four active gold investment funds, attracting more than 238,000 investors, over 80 per cent of whom are young people, he added. Azzam credited regulatory cooperation between the EGX and the Financial Regulatory Authority (FRA) for improving transparency through daily publication of fund prices and certified gold rates, helping raise public awareness and promote financial inclusion. The EGX chief also highlighted Egypt's strong potential, supported by sizable gold reserves and increasing local trading volumes. The three-day forum, hosted by Borsa Istanbul from Oct. 21–23, gathered global stock exchange executives and financial leaders to discuss market innovation, sustainability, and the future of capital markets. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
