.jpg)
The Egyptian Prime Minister, Dr. Mustafa Madbouli, held a meeting to discuss increasing government institutional investment in the Egyptian Capital Market. The meeting was held in the presence of Dr. Mohamed Maait, Minister of Finance, Major General Jamal Awad, Chairman of the National Authority for Social Insurance, Mr. Ahmed Kojuk, Deputy Minister of Finance for Financial Policy, Dr. Mohammed Farid Saleh, Executive Chairman of the Egyptian Exchange, Dr. Sherif Farouk, Chairman of the Egyptian Post Office, Mr. Basel Al-Ani, President of Misr Insurance Holding Company, Mr. Alaa Abdel Aziz, Chairman of the Egyptian Endowments Authority(Awkaf), Mr. Dr. Mohammed Dahi, Chairman of the Health Insurance Authority, and representatives of the Employees Fund of the Suez Canal Authority as well as representatives of other entities and companies.
Ambassador Nader Saad, spokesman for the Prime Minister's Office, said that during the meeting the prime minister stressed the importance of institutional investment, especially government’s investment in the Egyptian Capital Market, adding that it contributes greatly to the stability of markets, and plays a key role in reassuring investors, Egyptian and non-Egyptian.
Dr. Mohamed Farid, Executive Chairman of EGX, said that the meeting discussed ways to increase the percentage of government investments institutions such as pension funds and public and private insurance in the Egyptian Stock Market, in light of studying international practices showing the positive results of investments of insurance funds and pensions in the stock markets and helping the management of these funds to fill the actuarial gaps. He added that the coming period will witness meetings to inform the officials and directors of various institutions and insurance funds and pensions discussing means and advantages of investing through the stock markets, and discussing coordination mechanisms with all entities and agencies to speed up the process of increasing their investments through the capital market.
Fund managers welcomed the initiative, stressing that they had already begun the process of expanding investment in EGX, noting that coordination would be made with the relevant authorities.
