Egyptian Exchange Posted
H.E. Dr. Nabila Makram, Egyptian Minister of Immigration & Egyptian Expatriates Affairs, Dr. Mohamed Farid, Executive Chairman of The Egyptian Exchange, Mr. Ahmed Samir, Economic Committee Deputy of the Parliament, Ms. Shaimaa Halawa, member of the Parliament for Egyptians’ abroad, and Ms. Hanan Wajdi, representing the coordination of parties youth and a number of leaders of the Egyptian Exchange participated in the ringing of bell ceremony held today to stimulate Egyptians’ Abroad Investment in the Egyptian Capital Market.
Following the ringing of bell ceremony, H.E. Dr. Nabila Makram and Dr. Mohamed Farid, signed a Memorandum of Understanding to spreading the culture of savings and investment on the Egyptian capital market, raise awareness of the fundamentals of investing, encourage Egyptian’s abroad to benefit from the Egyptian economic development, and invest in their home country.
H.E. Dr. Nabila Makram, Minister of Immigration & Egyptian Expatriates Affairs, expressed her pleasure and thanked EGX’s Chairman for this initiation of cooperation. She said that Egyptians’ abroad are keen to diversify their investments in Egypt. Adding that this was a vital recommendation of the “Egyptian Entities Abroad” Conference organized virtually by the Ministry of Immigration with the participation of representatives of 55 entity. The ministry also received numerous inquiries on means of investment and trading in EGX. She pointed out that Egypt is ranked fifth in the world in remittances of Egyptians’ abroad, due to their confidence in the investment climate in Egypt.
She stressed that in accordance with this MoU, Egyptians abroad will be introduced to the Egyptian capital market and electronic trading. Also promotional campaigns will be organized to invest in EGX.
Dr. Mohamed Farid, Executive Chairman of EGX, praised the Ministry of Immigration’s efforts in supporting Egyptians’ abroad, stressing that teamwork would accelerate the pace of achieving the targets in raising awareness of investing in the Egyptian capital market. He added that brokerage firms shall participate in these activities through opening accounts for Egyptians abroad and informing them of means of investing.
He pointed out that this step complements EGX’s management efforts to stimulate trading and liquidity through the launch of its advertising campaign, development of financial products and mechanisms, including short selling and market maker, simplifying trading procedures, and attracting new listings in the Egyptian Market.