Head of Egyptian Financial Supervisory Authority (EFSA), Sherif Sami revealed Saturday that EFSA seeks to increase activity of bond market and securitization bonds in Egypt, Al Bawaba News reported. Sami explained that the move intends to open additional financing resources for companies. He pointed out that the board of directors recently approved a number of amendments to the executive regulations of the capital market law to encourage the issuance of bonds. Also, he pointed out these amendments include the introduction of what is known as covered bonds, which are backed by cash flows or other financial rights.
