Safe insertion of financial surpluses into investment channels

Reda Mosallam, partner and general manager of Truth Economic and Management Consultancy, said: after its official issuance, the decree of law will join the series of laws and legislations regulating the financial and banking sector in the country, thus enhancing its position in global competitiveness indicators and ease of doing business.

He added: The aim of the law will be to manage financial surpluses or wealth for companies, especially family, or even people in their individual capacity who have financial surpluses & do not have experience in managing them or the lack of time required for management, and that is through the custody of these wealth for the benefit of companies or individuals specialized in wealth management according to the structured contract (bond of custody) between the two parties that includes all the details related to management.

He explained that this law is very important, and will greatly contribute to the growth of the national economy and increase the gross domestic product, as it will contribute to investing more money and wealth by introducing them into correct investment channels.

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