The Egyptian Exchange (EGX) has launched a training program on “Risk Management” in cooperation with the Investor Protection Fund. The training aims at developing the competences of the risk management departments’ employees of the brokerage firms to enable them to design effective policies that strengthen their companies’ in this regard for more stability in the securities industry.
The Free training program includes two rounds each is four-days. The program started on Monday, July 9 and ends on Thursday, July 16. Approximately 70 brokerage firms attend each round from Cairo and Alexandria.
Mohamed Farid, EGX Chairman, said that the training program aims at providing trainees with the knowledge and skills necessary to discover and manage possible risks through a comprehensive and interactive explanation of the concepts of risk management with relevance to the capital market.
Farid mentioned that one of the most important forms of investment is to build the capabilities of individuals through these workshops. EGX shares its experience with the risk managers of the brokerage firms.
He added that the program enables trainees, risk managers, portfolio managers and investment managers, to measure credit risks and the means of dealing efficiently with them at the level of the market as a whole and at the level of each company, bank and customer level, to hedge against any disturbances In the future market.
EGX Chairman said that the development and building the capacity of risk management officials contributes to the further growth and progress of the securities market in a stable and sustainable manner.
Meanwhile, Farid revealed that EGX is developing a new risk management system that shall be activated to all brokerage firms before the end of this year.
Trainees will gain knowledge of how to use the risk management system to apply precautionary surveillance; especially that risk management is less costly than crisis management.