Dr. Mohammad Omran, The Egyptian Exchange (EGX)’ chairman, approved the decree no. (53) for the year 2015 regarding the experts’ list that contains 35 expert, and the decree no. (54) for the year 2015 regarding the arbitrators list and their number is 14 arbitrator. This is considered the first set of arbitrators and experts to work in the capital market disputes’ settlement. The applications of a total number of 49 arbitrator and expert were accepted as they meet the approving terms announced by the EGX during February 2015.
EGX has announced that launching the arbitration and dispute settlement rules comes within the context of EGX’ strategic Plan 2013-2017 which aims to expand the stock market support for the investment climate in Egypt and to improve the market mechanisms. One of the factors to evaluate the investment climate is the existence of a mechanism to settle disputes among investors.
It’s noteworthy that EGX has announced the arbitration and dispute settlement launch based on the rules issued by the United Nations Commission on International Trade Law International Rules (UNCITRAL) and their amendments. The rules issued by EGX states that the arbitrators and experts approving is open during January and July of each year.
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EGX Approved The First Group Of Arbitrators And Experts To Settle Capital Market's Disputes
Date 23/03/2015