Egypt to launch first domestic ETF - FT.com:
"Egypt is planning to launch its first domestically listed exchange traded fund. It is part of efforts to attract capital into a country that has been battered by political and economic instability after the toppling of Hosni Mubarak as president in February 2011.
Beltone Financial, a Cairo-headquartered financial services group, has been granted Egypt’s first licence to create an ETF. Trading in the new XT-Misr ETF, which will track Egypt’s EGX 30 stock index, is expected to start in late May or early June, with charges of around 1 per cent.
Aladdin Saba, Beltone’s chairman, said the launch of the ETF coincided with a new era for Egypt. A presidential election is due later this week, followed by parliamentary elections in the autumn."
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