CAIRO 13 August 2024: The Chairman of the Egyptian Exchange's Board of Directors (EGX), Ahmed El-Sheikh, and the Chairman of the Iraq Stock Exchange's Board of Governors (ISX), Thaer Hashem, officially approved a collaborative agreement between their respective exchanges this Monday.
This agreement aims to enhance cooperation, promote joint projects, facilitate the exchange of expertise and investment insights, with a specific focus on improving legislative processes, increasing investment awareness, attracting investments from both sides, and directing savings towards securities.
A key aspect of this agreement is the mutual commitment to transitioning towards a digital economy to strengthen the competitiveness of both stock markets.
El-Sheikh emphasized the intention to expand and diversify the range of financial products available to investors and to boost liquidity in both markets.
Hashem underscored the significance of the agreement in refining the financial market infrastructure, raising awareness about investments, and fostering mutual investments between Egypt and Iraq.
Notably, the Egyptian stock exchange recorded a total trading value of around EGP 1,014 billion in July, with 22,089 million shares traded in 2215,000 transactions. Stocks accounted for 10.66% of the total trading value, while bonds and treasury bills made up approximately 89.34% during the same period.
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