Cairo – Mubasher: Egypt's minister of investment and international cooperation Sahar Nasr and the Egyptian Exchange’s (EGX) chairman Mohammed Farid on Wednesday held a meeting with members of professional associations’ boards working in the field of securities.
The meeting included reviewing the methods of developing mechanisms and financial instruments to increase the efficiency of the Egyptian financial market, in order to keep up with reform and the restructuring plans of the national economy adopted by the Egyptian government.
Furthermore, the meeting also covered the details of the future plan of developing the financial market’s system, according to a statement to the EGX.
The meeting has been held in line with the ministry’s aim to develop the Egyptian market’s system and upgrade its mechanisms to reinforce its role in financing economic growth, as well as raise investment and saving rates, Nasr noted.
She referred to the adjustments recently approved by the Cabinet, which included the entry of new instruments to the financial market’s system such as allowing the establishment of a commodities market.
She stressed that the ministry will be in talks with professional associations’ in the market when executive regulations of laws are prepared, pointing out that she is keen on displaying the private sectors’ opinions on different laws.
Moreover, Farid said that the meeting tackled plans and suggestions for expanding the traders’ base, the efforts done to encourage short- and medium-terms investments, and the means to improve liquidity levels in the market.
Mohsen Adel, EGX’s vice chairman, said that the adjustments made in the Capital Market Law give the opportunity of setting up a labour union working in the securities field for the first time.
