Egyptian Exchange Posted
Rami El-Dokany, Executive Chairman of the Egyptian Exchange (EGX), participated in “Banking on the Future of Egypt – IFC and Egypt’s Financial Sector in Partnership” conference hosted by International Finance Corporation (IFC) on March 21st, 2023.
Capitalizing on IFC Vice President’s visit to Egypt, and aiming to enrich cooperation between IFC and government bodies, a distinguished audience participated in the conference including senior figures from the Government of Egypt, the Central Bank of Egypt, and Capital Markets alongside IFC’s regional and global experts. The conference discussed recent advances in the financial sector with a specific focus on women banking, climate finance, microfinance, and financial infrastructure.
Rami El-Dokany said that it was a very good opportunity to share past experiences, inspiring ideas, and future visions among all participating parties. He added that EGX appreciates the work undertaken by IFC in Egypt specially its great efforts to tackle, and increase awareness of, global warming.
El-Dokany stated that EGX spares no effort to help all listed companies taking all necessary measures to comply with Environmental, Social and Governance (ESG) frameworks and disclosing the steps taken.
EGX’s Executive Chairman added that EGX has recently announced launching Africa’s first regulated voluntary carbon market. EGX is currently working with all related parties to finalize the regulatory framework for the market in order to activate it soon.
Rami El-Dokany emphasized the importance of joining forces of all stakeholders, including IFC and regulators, to develop a multipronged approach to support the holistic growth of climate finance in Egypt, which amounted to more than US$1.7 billion across sectors recently. He added that EGX works with all partners to promote the “green bonds” whose guidelines were recently issued by Financial Regulatory Authority (FRA). “We want listed companies in specific and all companies in general, to look at the ESG frameworks and all elements of green economy as business opportunities not as additional burdens,” he added.