Egypt's new Egyptian Exchange (EGX) Chairman Islam Azzam, affirmed plans to accelerate key reforms in the capital market, with a focus on introducing financial derivatives, activating the market maker mechanism, and implementing securities lending and borrowing for short selling. He explained the Exchange's approach in the coming period will centre on continuous dialogue with market participants to shape policies and procedures that deliver direct impact, deepen the market, and raise efficiency and competitiveness. This, he noted, would attract more investments and reinforce the EGX's position. The bourse chairman stressed that trading remains governed solely by supply and demand, with no restrictions to be imposed that could hinder market growth. He underlined the commitment to protecting the rights of bona fide investors and taking firm action against violators in coordination with Egypt's Financial Regulatory Authority (FRA). Azzam highlighted ongoing cooperation between the EGX and the FRA to boost the efficiency of the capital market system and strengthen its role as a driver of economic growth. He also praised the efforts of EGX staff, emphasising teamwork and innovation as essential for the next stage, which aims to enhance the Exchange's standing locally, regionally, and internationally. Azzam added that efforts will intensify to promote listings, particularly from private companies, to increase liquidity and market activity, improve the EGX's attractiveness to domestic and foreign investors, and support the government's State Ownership Policy by expanding the ownership base of state-owned firms and fostering private sector participation in the economy. Attribution: Amwal Al Ghad English
