Egypt's Prime Minister Meets with FRA & EGX Chairmen
01/09/2022
01/09/2022
Egyptian Prime Minister Mostafa
Madbouly held a meeting with Dr. Mohamed Farid, Chairman of the Financial
Regulatory Authority (FRA), and Mr. Rami El-Dokany, Chairman of The Egyptian Exchange
(EGX), to follow up on the latest developments in the Egyptian capital market,
and to review the plans for the development of the market, as well as efforts
to enhance upcoming activities of the non-banking financial sector.
Egyptian Prime Minister stressed
the importance of coordination and integration of efforts between all parties
to strengthen the performance of the Egyptian capital market, as well as the
formulation and implementation of programs that raise the level of
competitiveness of the market, as a key player in financing businesses
developments.
Dr. Mostafa Madbouly explained that the
program to expand the ownership base of state-owned enterprise through capital
market is one of the government priorities abiding to the presidential mandates
for economic reform, which includes enhancing the participation of the private
sector in the economy to reach 65%.
Dr. Mohamed Farid, Chairman of the Financial
Regulatory Authority (FRA), stressed that the next stage will witness
amendments to the listing rules and registration, increasing reliance on
technology and insuring a better reach to different society segments.
Mr. Rami El-Dokany, Executive Chairman of the
Egyptian Exchange (EGX), said that the coming period will witness integration
between all market parties for the development of market ecosystem, including
improving the quality of companies’ disclosures, raise the efficiency of
investor relations managers and completing promotional efforts to attract new
companies and new investors to enhance the liquidity and trading of the market.