Cairo – Mubasher: Egypt’s cabinet approved making the country’s local-currency debt instruments available on Euroclear Bank, according to a statement on Thursday.
The country’s cabinet also approved establishing a new clearing, settlement, and central registry, with a capital of EGP 100 million ($5.99 million) in partnership with the Central Bank of Egypt (CBE), Ministry of Finance (MoF), and Misr for Clearing, Depository & Registry (MCDR).
The CBE will contribute 60% to the capital of the new clearing company, whereas the MoF and MCDR will contribute 20% each.
