EGX, Muscat Stock Exchange explore cooperation options in capital market

Daily News Egypt
3 Min Read

The Egyptian Exchange (EGX) has received a delegation from the Muscat Stock Exchange (MSX) to discuss enhancing joint cooperation, especially in terms of developing human capabilities, which would positively affect the efficiency of the financial markets in the two countries.

Chairperson of EGX Ramy El Dokkany emphasized the proposed aspects of cooperation with the Omani side, as well as the prospects for joint cooperation in all fields, especially those related to the double listing of companies in the two stock exchanges. He also shed light on the means and channels for exchanging experiences and information between them, as well as the technical mechanisms to facilitate this cooperation.

Mohammed Mahfoud Al-Ardhi, Chairperson of MSX, praised the strength of relations between the Sultanate and Egypt, and described them as ‘long and old’.

He pointed out that EGX plays a major role in serving the national economy.

Al-Ardhi explained that the visit seeks to hold discussions about ways of cooperation between MSX and EGX, especially with global trends in linking stock exchanges and technical development that has eliminated geographical boundaries in the world of finance and investment.

The visit sees the work teams of EGX making several presentations, including a review of the systems and work models of the various technical sectors in EGX, and introducing the representatives and leaders of MSX to all the new products and mechanisms adopted and implemented by the EGX management over the past few years to raise the efficiency and competitiveness of the Egyptian financial market.

The stock exchange management arranged a number of meetings for the visiting delegation, starting with a meeting with Muhammad Farid Saleh, Chairperson of the Financial Regulatory Authority (FRA), to discuss the latest legislative and legal developments in the capital sector in both countries, as well as review the frameworks that ensure that both sides benefit from the legislative environment for the capital sector.

It is scheduled that the members of the MSX delegation would meet with Hala El-Said, Minister of Planning and Economic Development, and Mohamed Maait, Minister of Finance, in addition to engaging in bilateral meetings with the Governor of the Central Bank of Egypt.

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