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Dr. Mostafa Madbouly, Prime Minister, held a meeting to follow up on the development of government institutions’ investment mechanisms at The Egyptian Exchange (EGX).
The meeting was held in the presence of Dr. Mohamad Jumaa, Minister of Awqaf, Dr. Mohamad Maait, Minister of Finance, Major General Gamal Awad, Chairman of the National Social Insurance Authority, Ahmed Kajuk, Deputy Minister of Finance for Financial Policy, Dr. Sherif Farouk, Chairman of the National Post Authority, Dr. Mohammed Farid Saleh, Executive Chairman of The Egyptian Exchange, Engineer Alaa Abdel Aziz, Chairman of the Egyptian Endowments Authority, Dr. Mohammed Dahi, Chairman of the General Authority for Health Insurance , Basel El Hini, Chairman & Managing Director Misr Insurance Holding Company Group, Dr. Mohammed Miftah, Investment Manager, Suez Canal Employees Insurance Fund, Emad Al Khawaja, Head of the Suez Canal Authority Employees Insurance Fund, and Ali Rabat, General Manager of the Insurance Fund for Arab Contractors.
At the beginning of the meeting, Dr. Mostafa Madbouly, Prime Minister praised the efforts for the implementation of this ambitious program, aiming to enable government institutions to develop the mechanisms of managing their portfolios through the Capital Market.
Nader Saad, the Egyptian Cabinet spokesman, said that this meeting, discussed the mechanisms of managing the investments of government institutions through the stock market mechanism, in the presence of representatives of various government institutions. He added that Dr. Madbouly stressed the importance of accelerating the pace of work on the completion of the goals of this program, to reach a flexible and consensual form of the program.
Dr. Mohamed Farid, Executive Chairman of the Egyptian Exchange said that these series of meetings focus on enabling government institutions to develop mechanisms and approaches to manage their portfolios by consulting with market’s professional and licensed specialists, encouraging them to formulate and implement investment mechanisms and approaches in a sustainable way. "These meetings aim to help government institutions redistribute their investment between fixed income instruments and equities in a sustainable way."
