Egypt celebrates World Investors Week

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Tue, 05 Oct 2021 - 01:42 GMT

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Tue, 05 Oct 2021 - 01:42 GMT

Minister of International Cooperation, University Deans & Capital Market Leaders Celebrate World Investor Week (WIW)

Minister of International Cooperation, University Deans & Capital Market Leaders Celebrate World Investor Week (WIW)

CAIRO – 5 October 2021: Minister of International Cooperation, Rania Al-Mashat, and a number of heads of private and governmental universities, leaders of the stock market, members of the stock exchange’s board of directors, and representatives of a number of professional associations working in the field of stock market, inaugurated, Tuesday’s session of the Egyptian Stock Exchange (EGX), participating in the activities of the World Investor Week 2021.

 

The opening of the trading session was attended by Rania Al-Mashat, Minister of International Cooperation, Mahmoud Matini, President of Ain Shams University, Sameh Farid, President of New Giza University, as well as Sayed El-Saifi, Dean of the Faculty of Commerce at Alexandria University, representatives from Al-Nahda University, Badr and Future University, and representatives of the Egyptian Securities Association, the Egyptian Society of Technical Analysts, the Egyptian Association for Direct Investment, and the Egyptian Association of Investment Managers.

 

The International Organization of Securities Commissions launched the World Investor Week in 2017 with the aim of raising the levels of financial knowledge and enhancing the culture of investors in the capital markets to introduce it to how to invest in a sound manner that guarantees their rights. There is a lot in spreading the financial culture related to the financial markets, its trading sessions during the period from October 4 to October 11, in celebration of the World Investor Week, based on invitations it receives from the World Federation of Exchanges.

 

For her part, Minister of International Cooperation, Rania Al-Mashat, stressed the importance of the World Investor Week, to promote the activities and the role played by the EGX in developing the Egyptian economy, noting the importance of capital markets during the coming period in light of the world’s demand for green and innovative financing tools to advance the agenda Sustainable development 2030, and Egypt's endeavor to use this type of financing tools to enhance its development vision.

 

The Minister of International Cooperation indicated, during her participation in the opening of the stock exchange trading session, that the capital markets play a major role in financing large and restricted small and medium companies, which enable them to finance their expansions, increase their business volume and enhance their growth opportunities.

 

For his part, Mohamed Farid, Chairman of the Board of Directors of the EGX, said that participating in the celebration activities of the World Investor Week 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 to develop and develop the Egyptian market.

The Chairman of the Stock Exchange revealed several endeavors by the current administration to form partnerships with several ministries concerned with education and culture, to develop and produce educational content that contributes to spreading financial culture for all groups, especially for children, through interactive dramatic story content.

 

"The current management believes that the process of enhancing financial culture and raising levels of financial awareness and knowledge is one of the most important targets of the value chain that it adopts to develop and develop the market, to raise efficiency and competitiveness, by increasing the number of listed companies on the "supply side" and the number of investors "the demand side", as well as developing products New financial mechanisms while improving the environment for doing trading and listing business,” Farid said.

He added that the strategy to enhance financial culture includes several axes, the most important of which are training employees of many companies and training university students, as well as developing social media platforms and a complete update of the website, as well as launching an unprecedented media campaign to spread awareness and knowledge of the basics Investing in the stock market.

 

On the sidelines of the meeting, Mohamed Farid, Chairman of the Egyptian Stock Exchange, signed a cooperation protocol with Mahmoud El Matani, President of Ain Shams University, to organize a comprehensive training program that includes lectures and workshops for university students in various faculties on stock market activities, and to introduce them to the basics of investment and long-term savings through the stock exchange.


This will be followed by an agreement to organize a series of seminars for students to spread awareness of the benefits of listing in the stock exchange and spread financial culture about investment and long-term savings through the stock exchange, in theory as well as in practice.

 

During his speech, Matini explained that the protocol is an extension of the continuous cooperation between the university and the stock exchange, thanking the stock exchange for its support of the university’s projects, whether in the educational or research fields and in centers of excellence, pointing out that this protocol is the second to be signed between the university and the Egyptian Stock Exchange and aims to spreading awareness of the advantages of listing in the stock exchange and spreading financial culture among students, young graduates and researchers.

 

He added that the rapid changes that the world is witnessing, especially in light of the Corona pandemic, have made it imperative for the forces of civil society and major institutions such as the stock exchange with educational institutions to cope with the continuous changes, pointing out that the university is in the process of opening the largest center for innovation and entrepreneurship (I Hub) in the Arab region during the coming days, with the support of the Central Bank of Egypt (EGX).

 

For her part, Nadini Sukumar, President of the World Federation of Exchanges, praised the efforts of the Egyptian Stock Exchange’s management in spreading financial culture and raising levels of awareness of the basics of investment and savings in the stock market, explaining that spreading financial culture is an essential part of the stock exchanges’ work to enable various types of investors to participate in the economic growth of countries.

 

"Financial literacy was not optional. We always invest in spreading financial culture, believing in the importance of achieving inclusive growth, and market-based financing contributes greatly to achieving sustainable economic growth,” she added.

 

Martin Moloney, Secretary General of IOSCO, said that the dissemination of financial culture is a major player in the organization's various work streams, as it is a cornerstone and we will always work on designing programs to raise the awareness of customers as a key factor in ensuring their protection.

 

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