MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

United Arab Emirates / Egypt
Exchange Traded Funds
Questions United Arab Emirates Egypt
Cover letter requesting SCA’s ‘ No
Objection’ to the marketing of the
foreign fund locally either on public or
private basis
SCA template detailing the main Fund
features / characteristics
Undertaking ( an SCA template for
either Public or Private distribution
depending on the Fund type) to be
signed by the Fund’s Sponsor / Issuer
Prospectus of the Fund
Distribution Agreement signed with
the Fund Sponsor
Sponsor / applicant’s Memorandum &
Articles of Association, Trade License
and Audited Financial Statements for
the last two year ( for first time
applicants only)
Promoter/Capital Requirements
Information
Is promoter approval required? No
Is there a regulatory obligation on a fund promoter to make good any
losses suffered by fund?
No Yes, this is covered in the prospectus, in
general the fund prospectus should
contain information that allows investors
to assess and evaluate the fund, and full
transparency of such data must be
provided to investors
What are the capital requirements for
a fund promoter?
The capital of the company or the foreign EGP 5 million
branch must be at least ten (10) million
Dirhams. Banks, financial investment
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