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Question 14. Do your financial markets offer debt instruments that ...
... Títulos de capitalización emitidos por las entidades autorizadas y vigiladas por ... Capitalization certificates issued by authorized entities and monitored by ...
www.iadb.org/financial-markets/report/1c14.htm - 14k - Resultado Suplementario

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Note added at 13 mins (2006-02-22 13:10:57 GMT)
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Question I: What is the nature of capitalization certificates and what is the motive for their creation?

Answer I: Capitalization certificates represent one type of saving, with the creation of which the government entrusted the Egyptian Ahli Bank, as a contribution to the [social] sense of saving [al-wa'i al-iddikhari] and in order to finance the development plan; that is, the real relationship is betWeen the state and the individual. The certificates were issued according to Law 8, 1965.


Question 2: In what ways is the return on capitalization certificates used?

Answer 2: The return is used to finance development projects that are included in the budget, and they are paid to the Ministry of Finance; that is, the return is given to the state for the financing of the development plan.


Question 3: Who pays the profits which capitalization certificates bring to their owners?



Answer 3: The Ministry of Finance finances the profits which capitalization certificates earn, in addition to [financing] all related expenses.

Question 4: Are capitalization certificates to be considered a loan or do they constitute a deposit which their owner is allowed to put to use?

Answer 4: A capitalization certificate is a deposit the value of which the owner is allowed to put to use.

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