FILE – Chairman of the Egyptian Exchange (EGX) Mohamed FaridReviewing what the Egyptian Stock Exchange (EGX) went through recently and how it was affected by current events, EGX Chairman Mohamed Farid outlined the measures taken to develop and improve the Egyptian bourse, in addition to its readiness to welcome the offering of government and armed forces companies on the stock exchange as per President Abdel Fatah al-Sisi’s announcements.In a seminar held at the headquarters of Business Today Egypt in Cairo, Farid started with a presentation on the stock exchange management efforts to develop the market in coordination with all parties. “This is a good message,” he asserts.In December, President Abdel Fatah al-Sisi announced that Armed Forces’ companies will be offered on the EGX. (39) of 2019 was issued regarding amending membership rules on the EGX to comply with the rules of the market maker’s work on listed securities’, and resolution No. (3) for the year 2019 regarding the rules of the market maker’s work on securities listed on EGX to organize the mechanism of the practice of borrowing securities for the purpose of selling. The bourse also launched an electronic map to dis- play the sites of brokerage companies on its website clarifying the sites of brokerage companies.

Source: Egypt Today January 27, 2020 07:52 UTC