In unanimous and harmonious elections, The Egyptian Exchange (EGX) chairs The Federation of Euro-Asian Stock Exchanges (FEAS). The celebration was carved, in Croatian capital, Zagreb, where The Federation of Euro-Asian Stock Exchanges (FEAS) General Assembly announced the unanimous choice of Dr. Mohamed Omran the Egyptian Exchange (EGX) Chairman as chairman of the federation. EGX is the first Arab Stock Exchange to win this post; that was announced during the 20th General Assembly meetings of the FEAS. Worth mentioning that since FEAS inception in 1995 till this nomination, Turkey had been chairing the federation.
The FEAS represents a large scale of important stock exchanges counting to 34 Stock Exchanges representing over $700 billion worth of capital and a trading value of more than $500 billion.
Dr. Mohammad Omran, EGX Chairman, announced that this step comes within the framework of the Organization’s strategic plan to regain its place on the regional and international fronts. This is a step that declares that we have overcome the difficult circumstances and we are regaining the position we deserve.
Dr. Omran also affirmed that the Egyptian Exchange is keen on activating the role of the federation in establishing a lobby that protects the interests of the emerging markets in light of the developments and huge challenges they face. He also stressed the importance of activating the federation’s role to emphasize the importance of corporate governance, disclosure, surveillance, and risk management in order to protect the capital markets from any possible financial crises.
He finalized his speech stating «The past month witnessed EGX winning the award of the most innovative stock market in Africa and we were keen to secure this premium position in one of the most efficient institutions in the capital market”. Dr. Omran also added, «I expect that such steps have positive effect on the position of the Egyptian Exchange and the investment climate in Egypt in general. Reaching these high-level positions is the best promotion for Egypt as they reflect the extent of stability the Egyptian economy has recently witnessed and helps to eliminate the negative image that was spread about the internal situation.»
