The Czech National Bank (CNB) has issued a long-awaited certificate to enable banks in the country to launch real estate funds for small investors, with the first one to be set up as early as March 2007 by Ceska Sporitelna Bank' investment vehicle Reico. Speculative trading in real estate has long been available in the country for major foreign investors, but it has largely missed the small investor, newspaper The Prague Post reported.
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