Egypt’s Minister of Planning and Economic Development Hala El-Said announced the closure of subscriptions to the NI Capital’s first money market fund, “Siula”, with an inflow volume exceeding LE 1.075 billion. El-Said, who is also Chairperson of the Board of Directors of the National Investment Bank (NIB), noted that the fund is in Egyptian pounds with a cumulative daily return. The minister added that the closing of the subscription comes before its scheduled date of 10th of March 2021, due to the large turnout witnessed during the initial subscription phase. She said that the tremendous success achieved by NI Capital,

Minister of Planning and Economic Development and Chairperson of the Board of Directors of the National Investment Bank (NIB), Dr. Hala El Said, announced that NI Capital – NIB’s investment arm, has launched its money market fund “Siula”, which comes as part of its strategy of to reinforce its role in achieving financial inclusion and developing the Egyptian capital market. El-Said highlighted that the fund will invest in liquid and short-term financial instruments, including bonds; T-bills; banking deposits; certificates of deposits and other low-risk instruments. NI Capital also aims to cater for the needs and requirements of its individual and institutional