Cairo – Mubasher: The Egyptian cabinet endorsed the Financial Regulatory Authority’s (FRA) recommendation to reduce regulatory fees on stock trading by 50%, the chairman of the FRA Mohamed Omran said.
The cabinet also approved a plan to extend the coverage of the Egyptian Investor Protection Fund (EIPF) to insure shareholders against bankruptcy of listed companies by paying each customer a maximum amount of EGP 500,000, Omran added in a statement on Monday.
Trading service fees will drop to 0.005% from 0.00625%, clearing and settlement fees will decrease to 0.0100% from 0.0125%, and stock market commissions will be reduced to 0.0100% from 0.0120%.
In addition, the fees for the EIPF will be set at 0.005%, compared to 0.010%.
