International financial institutions call for speedy offering of government companies to revitalize the Egyptian Stock Exchange

Officials of the Egyptian Stock Exchange began the external roadshow with a meeting with representatives of 16 major Arab and foreign financial institutions that manage assets worth hundreds of billions of dollars in multiple financial markets around the world.

The meetings aimed to promote the opportunities available in the Egyptian financial market among international financial institutions that pay attention to investment opportunities in the region, as well as to identify the vision of investors from financial institutions of events and developments at the level of the national economy with the aim of restoring their confidence in the Egyptian financial market after identifying the obstacles and challenges they face in order to Return of their investments in financial instruments and products traded on the Egyptian Stock Exchange.

Ramy El-Dakani, head of the Egyptian Stock Exchange, said that the near completion of the International Monetary Fund agreement will lead to a partial improvement in the market, explaining that the current policies applied by the Central Bank of Egypt to solve the dollar crisis are effective policies that contribute to the cohesion of the national economy.

He added that the management of the Egyptian Stock Exchange is working to enhance levels of reliance on financial technology solutions and applications, as well as activating several mechanisms and tools such as activating the derivatives market and developing indicators that comply with the provisions of Islamic Sharia, and others that follow up companies’ efforts to reduce carbon emissions in order to improve the competitiveness of the Egyptian market between Arab and global markets.

During the meetings, the participating financial institutions emphasized the attractiveness of investment in the Egyptian market and considered it a major market within their investment portfolios due to the diversity of investment opportunities in it.

The participants reviewed a number of obstacles and challenges facing the Egyptian market, including the declining levels of liquidity within the market, which negatively affect the investment decision, as well as the lack of supply of securities and the need for new proposals to contribute to the revival of the market. The attendees also stressed the need to raise the capabilities of investor relations officials. Restricted companies to establish more effective channels of communication with financial institutions, especially foreign ones. In this context, the representatives of the institutions in attendance stressed that disclosures in English in addition to the Arabic language enhance the levels of transparency and disclosure.

Representatives of financial institutions participating in the meetings also demanded the speedy registration of government companies in the Egyptian market, as this would reflect on improving liquidity levels and attracting a larger number of investors and foreign financial institutions.

A number of representatives of financial institutions suggested studying cooperation between Arab stock exchanges, especially the Gulf and Egyptian stock exchanges, with regard to double-entry or the possibility of linking to the “Arab Exchange” platform, with the aim of increasing supply to investors, attracting new liquidity and improving its current levels.

The activities of the promotional tour in the UAE witnessed the meeting of Rami Al-Dakani, Chairman of the Egyptian Stock Exchange, with the President of the Arab Monetary Fund, Dr.

The roadshow witnessed the meeting of Rami Al-Dukani and CEO of the Dubai International Financial Center, Arif Amiri, and the meeting discussed ways of joint cooperation, in addition to the UAE side reviewing the latest developments of the Growth Platform, which is concerned with financing emerging, medium and small companies and other programs adopted by the Dubai International Financial Center during the recent period.

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