Arab Finance: Prime Minister Mostafa Madbouly called for accelerating capital market reforms and speeding up the listing of state-owned companies on the Egyptian Exchange (EGX), following the appointment of a new bourse chief, as per a statement.
In a meeting with the Chairman of the Financial Regulatory Authority (FRA) Islam Azzam and the Chairman of the EGX Omar Radwan, Madbouly stressed the need for closer coordination between regulators and the exchange to support plans to develop the capital market.
The government is focused on strengthening market stability, boosting investment rates, and expanding private sector participation, while ensuring protection for participants in non-banking financial activities, he said.
Madbouly also highlighted the importance of expanding new financial instruments and advancing digital infrastructure to improve transparency and support informed investment decisions.
Moreover, he praised EGX’s recent performance, noting that daily trading values have exceeded EGP 12 billion and that market capitalization has risen above EGP 3.6 trillion, the highest level on record.
The prime minister also directed officials to finalize draft laws governing the capital market, emphasizing the importance of accelerating the listing of state-owned companies to maximize returns on public assets.
For his part, Azzam said the FRA is working to upgrade regulatory and supervisory frameworks in line with international best practices, with a focus on activating new financial products to enhance financial inclusion and market liquidity.
He added that progress has been made in developing the derivatives market, following the launch of futures contracts on the EGX30 index, with plans to introduce options contracts, activate market makers and complete short-selling mechanisms.
Meanwhile, Reda said the EGX has already begun introducing index futures and plans to roll out stock futures and options, providing broader investment opportunities.
He added that efforts are underway to attract major companies to list on the EGX and enhance its regional competitiveness through improved trading conditions, new incentives, and upgraded technology.
The coming period will also focus on promoting investment awareness and marketing the exchange, particularly as the number of retail investors, especially young people, continues to grow, he pointed out.
The meeting also reviewed government plans to expand private sector participation and attract new offerings, alongside progress on final listings and offerings of provisionally listed companies, as part of efforts to deepen the market and boost trading activity.
