Dr. Islam Azzam, EGX Chairman, participated in the activities of the 9th Annual Capital Market Summit, organized by “Media Avenue” company titled “FinTech: The Path to Investment Inclusion”, under the patronage of Ministry of Finance, Ministry of Planning and International cooperation, as well as the Egyptian Exchange. The event was attended by: Mr. Ahmed Kouchouk, Minister of Finance; and Dr. Mohamed Farid, Chairman of Financial Regulatory Authority.
Dr. Islam Azzam emphasized during an open dialogue as part of the summit’s activities, that the Egyptian Exchange had achieved significant progress in the path of digital transformation and development of technological infrastructure, which enhances our readiness to deal with the accelerating financial technology and changing trading patterns. He explained that digital transformation is not an option, it’s a must, being a fundamental necessity for improving market efficiency and enhancing its competitiveness both regionally as well as internationally.
EGX Chairman pointed out that modern digital platforms and trading applications contributed obviously in reshaping investor’s map within the market, through attracting new segments, especially youth category, facilitating access to investment tools, supporting expansion of investors base and enhancing investment inclusion concept.
Azzam clarified that EGX is working on developing its systems, allowing gradual benefiting from data analysis and smart technologies within the infrastructure of the market, with full commitment to governance and risk management frameworks, ensuring achieving balance between innovation and maintaining market stability.
He confirmed that diversifying investment instruments represents a key priority during the coming stage, being an essential element for deepening the market and increasing its efficiency. He also highlighted the progress achieved in the file of launching Financial Derivatives Market and trading of Futures Contracts, activating short selling mechanism within a month as part of disciplined regulated and operational system, under supervision of The Financial Regulatory Authority.
In a related context, He clarified that we continue working on developing the secondary bond market, which contributes to increasing liquidity, improving efficiency of pricing, and supporting the role of debt market as a major financing tool for the economy.
Also Dr. Islam Azzam pointed out that the Egyptian Exchange is monitoring global developments related to artificial intelligence applications and block chain technologies, studying benefiting from them on the medium and long terms.
Regarding EGX indices, he said that there are ongoing plans for developing market indices, to more accurately reflect trading activity and sectoral diversity, serving the needs of both regional and international investors.
Dr. Islam Azzam concluded by emphasizing that integration between technological development, diversification of investment tools, and enhancing financial literacy represent the foundation for building strong sustainable financial market, capable of supporting plans of economic development and achieving investment inclusion.
