Commodity Exchange
Ashmawy noted that the commodities that will start trading have been identified, such as wheat.
Mohamed Farid added that trading would start on the commodity exchange with 4 to 5 commodities.
The new exchange aims at shrinking the circle of commodity trading from the source to the consumer, and saving the transportation cost, which represents 30% of the total cost of goods.
The final touches are being put in place for the Commodity Exchange Management Company for both the legal and the administrative aspects of the company.
The chairman of the board was empowered to determine the percentage of contribution according to the results of the discussions between the shareholders.
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