Minister Sahar Nasr said - File Photo
CAIRO – 20 July 2017: The Ministry of International Cooperation and Investment is giving due concern to developing the Egyptian Exchange (EGX) and updating its system, Minister Sahar Nasr said Thursday in a statement.
She said that amendments to the laws governing the stock market have been issued recently.
In May, the Cabinet approved amendments to some provisions of the law regulating EGX, Middle East News Agency (MENA) reported.
The Cabinet agreed on setting the duration of the EGX chairman post at four years, which can be extended to another term, in addition to granting a seat to the small- and medium-sized enterprises (SMEs) in the board.
Prime Minister Sherif Ismail agreed on the appointment of Mohsen Adel as vice chairman of the EGX for a four-year term, governmental sources told Reuters Wednesday.
Mohsen has 19 years of experience in stock markets and securities in addition to his post in the EGX as a board member until June 30, 2017.
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