The Minister of Sports… The fund is the most comprehensive and sustainable step to provide appropriate care and support to our sports heroes
Iman Al-Wasili and Fathi Al-Sayeh
Dr. Ashraf Sobhi, Minister of Youth and Sports, and Mohamed El-Etrebi announced Chairman of the Board of Directors of Banque Misr announces the launch of the first charitable fund to support sports ” Fund Sports Egyptian”, the press conference that was held today in the presence of Dr. Imad Al-Banani and Dr. Suzan Hamdi, the managing director of the fund, and Ms. Dalia Shafik – CEO and Managing Director of Beltone Investment Funds Management, and the board of directors of the fund, which includes a group of specialists in sports sciences, academics, economists, businessmen and a group of sports movement elements.
On his part, Dr. Ashraf Sobhi, Minister of Youth and Sports, stressed that the importance of this fund comes first, as it reflects the extent of interest and support given by His Excellency Mr. President Abdel-Fattah El-Sisi, President of the Egyptian sports system, and it represents the most comprehensive and sustainable step that culminated the efforts made in the field of providing private sponsorship and appropriate support to Olympic champions, national teams and teams qualified for various international competitions, especially the Olympic Games.
Noting that the efforts made during the last period to establish a fund to support Egyptian sports are many and varied and reflect in their entirety The keenness of the Egyptian state, with all its governmental, banking, and private sector institutions, for its deep awareness of the importance of sports as one of the most important pillars of national security and the soft forces that effectively influence the development of the national economy, especially in light of the comprehensive renaissance witnessed by the new Egyptian Republic in various fields.
confirmed / Mohamed Al-Etribi – President Board Management Bank Egypt that the contribution of Bank comes from (starting point turn
Entrepreneur in Responsibility National as one of the most important themes the main which The Bank, and including represented by from Pillar as one Lists (growth and progress in all ) domains, all To contribute to this great work ) seeking to raise name Egypt and heroes in all domains sports on level local and international befitting in the name of Egypt and we call all Parties to participate in Fund to achieve THIS OBJECTIVE HIGH ”.
Fund Licensed from before General Authority Finance to collect money and invest it then Expenditure Revenue on Support Renaissance Sports Egyptian to access to achieving its objectives from through (program plan his on ) all levels to access to global , by from through Guidance Support Technical and material to support players and technicians, and contribution in Finance Courses Training) at global in All Domains Industry Champion the athlete , especially the Olympic champions, and in a way that supports the state’s strategy to encourage sustainable investment development in various fields, especially in sports.
Ibrahim Karam ) Board of Directors of Beltone for Investment Funds Management and Managing Director of Beltone Financial Holding “We are honored to assign the task of managing the fund to Beltone Investment Fund Management, as it is the first fund of its kind in Egypt and the Middle East with the aim of supporting Sports at all levels and finding unconventional ways to provide financing and material support for Egyptian sports through an institutional framework characterized by the highest levels of governance in order to sustain investment returns. From this standpoint, Beltone puts its diverse experiences – for nearly 20 in the field of managing investment funds and portfolios through the management of assets exceeding 24 billion pounds – to achieve the best investment return for the Fund by choosing the appropriate investment tools in accordance with the investment policy of the Fund.
The Fund takes the form of an investment Open Duration years midwife for renewal in accordance with provisions law market head money (Al-Masry and its regulations Executive under ) supervision the authority public for supervision Finance, with a head money ) paid in the amount of 5 million pounds until Fund from subtract documents to subscribe , this has received contribution each from the Ministry of Youth and Sports and Bank Egypt amount 10 milli Won EGP Egyptian per of them plus to (share) many from other banks and institutions in the fund illusion National Bank of Egypt Bank Cairo and Bank Arab African and Bank Commercial International and a group Talaat Mustafa and a bank Faisal Islamic and Qatar National Bank Al Ahli And the Bank The United And the Bank Channel Suez and the Bank The Egyptian for Development Exports and Bank The Company Arabia banking international ; will be received requests purchase documents investment from through branches Egypt Bank ,
The collected funds will be invested in bank deposits, savings certificates, investment certificates, bonds, treasury bills and liquid cash in current accounts with me. Banks registered with the Central Bank of Egypt. Beltone to manage funds Investment Business & Responsibilities Manager Investing, as *(Office Alliance Law Firm Business Advisor Legal for the Fund The Egyptian Company for Management Services in the Field of Investment Funds (Servand) Fund management services, in addition to the RSM accounting office and the Baker Tilly office as auditors accounts, and will be coordination from through board *(Management Fund with Sponsors and organizations international to support Activities Fund Direct whether through support cash or Eyes .
institutions public and private to support (and sponsorship the youth system and sports the Egyptian in framework their leadership role (in area liability societal; where is that Model to encourage partnerships between The various sectors in the Egyptian society government , private and private, to contribute ) verb and the real ) in development and renaissance society
