Egyptian Exchange (EGX) Chairman Mohamed Farid - File photo
CAIRO – 29 November 2017: The Egyptian bourse has signed a protocol with the German Development Agency GIZ to cooperate in introducing the most important mechanisms and frameworks that govern the stock market, in regards to companies’ registration and disclosure, to a number of new judges at economic courts.
Head of the Egyptian Stock Exchange (EGX), Mohamed Farid, said that the cooperation with the GIZ comes as part of the EGX’s strategy that aims to spread fiscal awareness among different parties involved with the stock market, a statement from the EGX said Wednesday.
He added that there will be coordination with the GIZ to provide information for small- and medium-sized enterprises (SMEs) about the available financing tools in the stock market. Andreas Kuck, country director of the GIZ, welcomed the cooperation.
Farid said that the EGX is consistently seeking to develop the efficiency of the market, pointing to the training workshops that the bourse will organize with a number of associations that are interested to know about the investment and financial services that the stock market provides.
The GIZ is working in a number of projects in Egypt that aim at achieving the sustainable development goals within Egypt Vision 2030.
It also aims at holding training programs to develop the skills of different parties involved in the market. One of these programs started last year that involved financing SMEs.