PM issues decree to amend executive regulations of money market law

CAIRO - 26 November 2018: Prime Minister Moustafa Madbouli has issued a decree to amend the executive regulations of the money market law to be able to implement amendments that had been endorsed in March but never went into effect.

The amendments are meant to introduce new financial tools with the aim to attract more investments, said chairman of the Financial Regulatory Authority (FRA) Mohamed Omran in a statement Monday.

This should help select the most suitable financial tools for each party in line with its own financial policies, Omran said.

He welcomed the premier's decision, noting that a new article on green bonds has been included in the amended executive regulations as a tool to secure funds for environment-friendly projects and lure foreign investments in this field.

The amended regulations also included securities lending to allow brokers to apply for loans on behalf of their clients.