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Monday September 17th, 2018

Egypt’s First Sovereign Fund Law

On 18 August 2018 the law establishing Egypt’s first sovereign wealth fund named “Misr Fund” was issued. With the purpose of contributing to sustainable economic development through management of state funds and assets, the fund was created as an independent legal entity, with an authorized capital of EGP 200 bn. Misr Fund has the right to invest in variable financial activities inside and out of Egypt, including private equity, securities, movable and fixed assets. Transactions between the fund and its subsidiaries are exempt from taxation, save for taxes on dividend distribution. You can read more on Egypt’s sovereign fund law through this link.

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