Cairo – Mubasher: Egyptian government agreed to launch a new company for clearing, settlement, and central registry, with a capital of EGP 100 million ($5.99 million).
The project represents a partnership between the Central Bank of Egypt (CBE), Ministry of Finance (MoF), and Misr for Clearing, Depository & Registry (MCDR), according to a statement.
The CBE will contribute 60% to the capital of the new clearing company, while the MoF and MCDR will contribute 20% each.
