Nasr: New amendments to Capital Market Law to strengthen governance, transparency

Minister of Investment and International Cooperation Sahar Nasr inaugurated the Annual Capital Markets Summit on Tuesday in Cairo.

“The government is keen on carrying out all legislative and legal actions to support reforms of the non-banking financial sector; we consider this sector as a fundamental driver of growth,” Nasr said.

During its weekly meeting, the cabinet approved new amendments to the Capital Market Law. The new amendments aim to promote the principles of governance and transparency according to the most recent international systems, besides issuing a new financial leasing and factoring. The amendments are now waiting for the parliament approval.

Nasr indicated that promoting investment in Egypt was an important pillar of President Abdel-Fatah Al-Sisi’s visit to the US.

“Attracting foreign investments was the main goal for activating the non-banking financial sector, reiterated the Minister, who noted that foreign investments in the stock exchange significantly increased and that foreign financial institutions marked their interest in developing the Egyptian capital market during their visit to Egypt.