The Egyptian Exchange (EGX) held meetings with representatives of 16 mega Arab and International financial institutions in the United Arab Emirates (UAE) during the past week. The meetings discussed investment opportunities at EGX. The meetings identified foreign investors perception of the Egyptian market, challenges and opportunities they are facing with the aim of attracting foreign investments.
Rami ElDokany, Executive Chairman of the Egyptian Exchange (EGX), indicated that finalizing the International Monetary Fund (IMF) agreement will give a positive impact on the market. He added that the Central Bank of Egypt’s (CBE) current policies on FX are effective and will contribute to boosting national economy performance. He also said that EGX will be focusing more on financial technology solutions and applications for its services and activating new mechanisms and tools such as the derivatives market. EGX will be developing Shariah Compliant Index and Carbon Emission Index. All efforts are aiming to provide a competitive state-of-the-art Egyptian Platform attractive to foreign investments.
During the meetings, the participating financial institutions emphasized the attractiveness of the Egyptian market and its weight in their portfolios. However, they identified some points needed for better performance of the market.
The promotional tour in the UAE also witnessed the meeting of Rami ElDokany with the Dr. Dr. Abdulrahman A. Al Hamidy, Chairman of the board of Arab Monetary Fund (AMF) and Mr Arif Amiri the CEO of the Dubai International Financial Center (DIFC) to discuss means of cooperation.
