EGX's Board Approves The Egyptian Exchange's Strategy For The Years 2013-2017
During its meeting today, The Egyptian Exchange's Board members approved the strategy for 2013-2017.
The broad-lines of this strategy are based on dealing with the current challenges to move EGX from being an emerging markets to join the developed markets. This strategy tackles the issues of protecting investors' rights and providing them with strong and flexible legal structure to achieve more efficiency and effectiveness to the market.
Dr. Mohammed Omran, EGX Chairman, stated that EGX was keen to have this strategy implemented (which will be available to all customers soon through the website of EGX).
He added that it did not ignore any legislative, regulatory or policy hindrance that may prevent a full implementation of the strategy. This strategy aims to develop EGX market to compete with international exchanges.
The new strategy is based on Six axis;
- First, legislative structure, with the aim to provide for those in charge of market flexibility development without prejudice to the roles of all relevant parties.
- Second axe aims to develop new mechanisms to the market; i.e. Private bond market and stock exchange contracts.
- Third axis is concerned with development of IT infrastructure and technology.
- Fourth axis focuses on the promotion and community outreach.
- Fifth axis depends on deepening the role of the stock exchange in the economic and social development
- Sixth axis is to deepen the status of the Egyptian Stock Exchange at the international level.