EGX Participates In A Dialogue On Market Development Plans And The Activation Of New Mechanisms

Mohamed Sabri, EGX Vice Chairman, participated in the annual meeting of Azimut Fund Management, with wide attendance of leaders from the financial institutions, experts from the financial market, as well as fund and investment managers. The Egyptian Exchange (EGX) participated through a session titled: “Future of EGX amidst Economic Reform”.
 
During the session, Sabri reviewed the latest developments in EGX, emphasizing that EGX management works hard to support and encourage companies to list, along with increasing investment instruments and mechanisms. Besides, attracting new investment flows through developing the legislative and regulatory environment, in full coordination with Financial Regulatory Authority (FRA).
 
EGX Vice Chairman explained during the session the importance of launching new indices in the previous period such as: EGX33 Shariah Index and EGX35 Low Volatility Index EGX35. Both were launched to cater for market’s needs supporting fund managers and investors to build effective investment strategies.  
 
He also presented EGX’s plans to introduce innovative financial instruments, diversifying the available products and mechanisms such as borrowing securities for the purpose of sale (short selling) and financial derivatives, which contributes to increasing the market depth and stimulates trading, attracting diverse range of investors locally and internationally.
 
Sabri highlighted the efforts of promoting financial awareness and financial literacy, noting that EGX is arranging programs for youth, universities as well as new investors, aiming to build knowledgeable investment base capable of making well-studied decisions.
 
EGX Vice Chairman concluded his speech emphasizing on the continuous cooperation between EGX, FRA and all the financial institutions in the market, to support market growth and development providing modern integrated investment environment that enhances its competitiveness.
 
During the event, Ahmed Abouelsaad, Managing Director of Azimut Company, expressed his appreciation of the participation of EGX in the annual meeting. He praised the launch of new indices, emphasizing the importance of updating the market’s measurement tools. He also assured that the company is ready to launch new investment products, that align with the ongoing development of the financial market.