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Within our continuous monitoring of the situation in Stock Market and in light of security developments in Egypt, The Egyptian Financial Supervisory Authority(EFSA) and the Egyptian Exchange (EGX) met and agreed on the following:
- As a general rule, both entities resort to taking new precautions only when necessary needed and mandated by the current political situation of the country.
- The most important goals of sustaining regular trading is to insure liquidity for investors
- EGX's activities is linked by the banking sector, as determined by the Central Bank of Egypt, for clearing and settlement purpose.
- Continuous follow-up on disclosure of listed companies of any significant developments or effects experienced as a result of the current situation.
EFSA & EGX also insured that highest security procedures were taken to secure operation in the market.
Both entities will keep market members informed with any new updates related to the market.
Dr. Mohammed Omran, Chairman of EGX, said that a lot of companies listed on EGX achieved positive financial results higher than the current price levels for lower profitability complications compared with many other Stock Exchange.
Sherif Samy, Chairman of EFSA, stated they have received a number of requests to increase the capital of companies operating in EGX and that these requests are being reviewed currently.
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