Dr. Mohamed Farid, Executive Chairman of The Egyptian Exchange (EGX), participated in the Cybersecurity conference held today in the presence of Dr. Mohamed Mait, Minister of Finance and Dr. Khaled Abdel Ghaffar, Minister of Higher, and representatives of the Ministries of Transport and Military Production, in the presence of representatives of national, regional and international telecommunications and information technology companies.
During his speech, Dr. Mohamed Farid, said that capital markets rely mainly on information technology in their daily operations, stressing that their increasing dependence on different technological applications reflects the importance of securing data and hedging against any uncontrolled risks.
Dr. Farid stressed the importance of financial inclusion, which is in line with the Egypt's program towards digital transformation, as a key goal for banking and non-banking sector, which requires simplifying the procedures to have safe access to financial services and products.
He pointed out that capital markets have been ahead in the transition to electronic systems through the development and construction of central data, pointing out the technology’s importance, especially in the financial sector, in order to mobilize more savings needed to finance investments and accordingly achieve the goals of development plans.
He added that EGX has been able to formulate a vision and a technological action plan during the beginning of the pandemic. This in turn ensured the continuation of work and stability of trading.
Dr. Khalid Abdul Ghaffar, Minister of Higher Education and Acting Minister of Health, said cybersecurity needs qualified human calibers with the needed skills to achieve full information protection. He continued that health institutions are currently functioning with Technological business models that require securing data to ensure continuity and efficiency in the provision of services as well as good decision-making based on audited information and data.
Dr. Mohamed Maait, Minister of Finance, said that the Egyptian government prioritized building the infrastructure needed to secure and protect information in light with its digitalization plan to secure all government transactions and control the financial system of the state. He added that applying systems connecting all related parties to the ministry provides us with an accurate and time efficient results.
