Egypt’s Prime Minister meets with the Arab Federation of Exchanges Chairman and Members

Madbouli stresses on the importance of strengthening coordination and integration between
the Arab Exchanges in light of the pivotal role played by financial markets in the global economy
Dr. Mostafa Madbouli, the Prime Minister, met today with the Arab Federation of Exchanges
(AFE)’ Chairman and Members, in presence of Mohamed Farid Saleh, EGX chairman, and
Njandini Sokumar, the World Federation of Exchanges’ CEO. The meeting was attended by Dr.
Mohammad Maait, Minister of Finance, and Hisham Tawfik, Minister of Public Business Sector.
Advisor/ Nader Saad, the official spokesperson for the Prime Minister, stated that the meeting
comes as part of the Prime Minister’ keenness to meet with the Arab Exchanges’ heads during
their presence in Cairo to attend "AFE 10th Conference”, in order to confirm Egypt's support for
the efforts of cooperation and integration between the Arab exchanges, thus promoting the
development efforts in the Arab region.
During the meeting, the Prime Minister stressed on the importance of enhancing coordination
and complementarity between the Arab exchanges, specially in light of the important role
played by the financial markets in the global economy. The Prime Minister welcomed the
transition of the Federation presidency to Egypt during the ongoing meetings, thanking Abu
Dhabi Exchange Chairman for his efforts during his presidency.
Prime Minister’ spokesman said that AFE’ chairman and members thanked the Egyptian
Government for hosting the meetings of the 10th Conference of the federation, expressing their
confidence that Egypt’ presidency will witness more cooperation and coordination between the
Arab financial markets, specially with regard to the importance of working on the establishment
of an electronic trading system between the Arab exchanges, standardization of rules and
regulations concerning the stock exchanges, as well as dispute settlement mechanisms. The
Arab exchanges’ heads expressed their full support for the Arab markets’ initiatives.
Mohamed Farid Saleh, EGX Chairman, pointed that the coming period will witness more efforts
to study the dual-listing measures among the stock exchanges and standardizing and simplifying
the listing operations, in order to serve the Arab exchanges’ integration objectives and to
support the economic development efforts.