Cairo – Mubasher: The Financial Regulatory Authority's (FRA) consultative committee has approved to reduce fees on the Egyptian Exchange’s (EGX) transactions, which are paid by retail or institutional investors.
The committee has approved to slash fees by 20% to 0.04% from 0.05% now, sources from the committee told Enterprise.
The sources added that proceeds from fees on transactions are used to fund four entities: the FRA, the Egyptian Exchange (EGX), Misr Central Clearing, Depository, and Registry (MCDR), and Egyptian Investor Protection Fund (EIPF).
Following the fees cut, there are no risks that EIPF’s assets would decrease after reaching EGP 2.5 billion, the sources indicated.
