Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has recently approved establishing two new real estate fund, with two more expected to be launched this year, according to the authority's chairman Sherif Samy.

Samy added in his speech to the Portfolio Egypt conference on Sunday that the EFSA is currently communicating with ministries to make the best use of the state’s fixed assets through real estate investment funds.

This type of funds plays a big role in protecting savings from the currency depreciation and exchange rates fluctuations, he explained.

Lately, EFSA approved a real estate fund for Naeem Holding, and Egyptians Abroad Investment and Development companies.

On a separate note, EFSA’s chairman noted that the State Council is reviewing the amendments to the capital market law, adding that he hope that it will be approved before July.

Other amendments are proposed to the companies’ law in order to facilitate activities and protect small investors, he added.