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Beltone Financial secures Egypt’s first ETF licence

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Beltone Financial has been granted Egypt’s first licence to issue exchange-traded funds, according to press reports.

A Reuters news report on Monday morning states that Mohamed Omran, head of the country’s stock exchange, believes that ETF trading on the bourse could begin “within six weeks”.
 
"The infrastructure and the regulations relating to the index funds are ready for work and within six weeks we can see trading of index funds papers on the bourse," Omran said.
 
The first Egyptian ETF to come to market is expected to be XT-Misr, which will seek to replicate the performance of the country’s EGX 30 stock index.

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