On May 27th, 2021, The Federation of Euro-Asian Stock Exchanges (FEAS), alongside with its members the Egyptian Exchange and Misr for Central Clearing, Depository and Registry, held the “Meet the Market with FEAS | The Egyptian Capital Market” virtual event.
This event was the third one in the Meet the Market with FEAS event series. The purpose of the initiative is to organize virtual Meetings/Roadshows for FEAS members’ markets to raise awareness about the market structures, operations, processes and benefits, and give the answer to the question “Why to invest in a specific country”? The one-day online event has gathered together more than 100 participants from over 25 countries of the world. Participants represented Investment Banks, Stock Exchanges, Clearing companies, Brokerage Firms, International Corporations, Asset Managers, Funds as well as local Market Participants.
The opening remarks were made by FEAS Secretary General Dr. Konstantin Saroyan and Deputy Secretary General Ms. Armenuhi Hovakimyan.
Dr. Mohamed Farid Saleh, Executive Chairman of The Egyptian Exchange (EGX), during his presentation, reviewed the comprehensive economic reform program adopted and implemented by the Egyptian government since 2016, which included financial, monetary and structural reform. He stressed that the reform program contributed in achieving; greater stability of macroeconomic indicators, and achieving positive growth rates, as well as strengthening the role of the private sector. He added that the Egyptian capital markets has a big role to play in not only helping different economic entities access the financing needed for expansion, growth and start-up, and then creating jobs and improving people's living conditions, but an important platform for trading, investing and easy entry and exit for investors.
He highlighted the efforts made by EGX’s management to raise the efficiency and competitiveness of the Egyptian Capital Market with the perspective of the value-added chain, which includes the supply side by improving the quality of disclosures and promoting the attraction of new companies strong and ambitious to restrict, and besides demand through increased awareness rates and financial culture, and besides the trading environment, which included the development and development of new products and trading mechanisms that contribute to the diversification of investment options for all categories of investors.
Following the EGX presentation, Mr. Alaa Amer, the Chairman and Managing Director of MCDR introduced the company to participants as he talked about its establishment, operations and services provided to different market participants and shareholders. He also talked about MCDR different mechanisms and systems specially the cash disbursement, short sell and the SGF. He further added that the MCDR payment system is final and irrevocable due to applying the RTGS with the Central bank of Egypt. Further, Mr. Alaa spoke about the importance of taking part of international organizations mainly to benefit from the exchange of knowledge and having bilateral agreements with different markets in the region and worldwide to allow investors a variety of investment options. Finally, Mr. Alaa spoke about MCDR different awards and assessments.
The presentations were followed by Q&A Session, during which the participants actively asked questions to the speakers.
Dr. Konstantin Saroyan, FEAS Secretary General said: “I would like to take this opportunity to thank today’s speakers for their great presentations and interesting insights. I would also like to thank participants of today’s event for joining us in this journey, where we together discovered the Egyptian Capital Market.
This is the third time we are organizing the Meet the Market event for FEAS Members, and we are happy to see the growing interest towards FEAS Virtual events. Stay tuned to FEAS, as we continue to develop our mission, to promote cooperation, development, collaboration and promotion of the capital markets of the Eurasian region”.
Dr. Mohamed Farid, EGX Chairman said: “FEAS’s “Meet the Market” initiative is an innovative marketing activity from the FEAS. I would like to thank the FEAS Secretariat for their continuous effort for the benefit of their members”.
Mr. Alaa Amer, MCDR Chairman and Managing Director said: “Meet the Market with FEAS is a good initiative from FEAS not only because it exposes more information about each individual market but because it spread awareness of different markets and shed the light on potential investment opportunities. He further added that he was happy to take part of this event and he did benefit from it”.
