Egyptian Exchange Posted
The Egyptian Exchange (EGX) participated in the World Investor Week (WIW) for 2021 with a ringing of bell ceremony entitled “Ring the Bell for Financial Literacy”. The event was held in the presence of Dr. Rania Al-Mashat, Minister of International Cooperation, Prof. Dr. Mahmoud El-Matini, President of Ain Shams University, Prof. Dr. Sameh Farid, President of New Giza University, Dr. Sayed El-Saifi, Dean of the Faculty of Commerce-Alexandria University, representatives from Al-Nahda University, Badr University, Al-Mustaqbal University and leaders of the Egyptian Capital Market.
WIW is a week-long, global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection, and to highlight the various initiatives to raise awareness. The 2021 edition takes place from 4 October to 10 October 2021. More than 80 exchanges are part of the initiative, bringing together stakeholders to celebrate the progress that has been made and looking to partner on the road ahead.
Dr. Rania Al-Mashat, Minister of International Cooperation, stressed the importance of the World Investor Week (WIW), to promote the activities and the role played by the Egyptian Exchange in the development of the Egyptian economy. She pointed out the importance of capital markets during the coming period in light of the world’s demand for green and innovative financing tools for the 2030 sustainable development agenda, and Egypt’s efforts to use this type of financing tools to enhance its development vision. She indicated that capital markets play a crucial role in financing large and restricted SMEs companies, which enable them to finance their expansions, increase their business volume and enhance their growth opportunities.
Dr. Mohamed Farid, Executive Chairman of EGX, said that participated in the celebration activities of the World Investor Week (WIW) reflects our increasing involvement in supporting and promoting financial culture and raising awareness of issues related to the capital market; as it is one of the most important elements of the value chain that we adopt for the development of the Egyptian Capital market. He revealed several EGX’s initiatives to partner with related ministries to develop and present educational financial curriculum that contributes to spreading financial culture, especially to youth, through interactive content.
Ms Nandini Sukumar, CEO of The World Federation of Exchanges (WFE), said, “The WFE commends EGX for being a champion for financial literacy and inclusion. The issue has always been a priority for exchanges and CCPs and as an industry we devote resource and energy to it because markets-based financing helps pave the way to sustainable economic expansion. The nature and ethos of public markets enshrines investor protection at the heart. Education is a significant factor in developing markets to maturity and beyond.’’
Martin Moloney, Secretary General of IOSCO, said, “Retail investor protection cuts across many of the issues covered by IOSCO work streams. It is a cornerstone of all IOSCO’s work that our Committee on Retail Investors work continuously to promote the enhancement of financial education and retail investor protection.”
During the event, Dr. Mohamed Farid, EGX Executive Chairman, signed a MOU with Dr. Mahmoud El Matani, President of Ain Shams University, to organize a comprehensive training program for university students on stock market activities, and to introduce the basics of investment and long-term savings through the stock exchange to them.
Prof. Dr. Mahmoud El-Matini, President of Ain Shams University, said that the MOU is an extension of the continuous cooperation between Ain Shams University and EGX. He thanked EGX’s management for its support, whether in the educational or research fields and in the centers of excellence. He pointed out that this cooperation is the second one signed between Ain Shams University and EGX aiming to spreading Financial Awareness among students, young graduates and researchers.