Rami El-Dokkany, Chairperson of the Egyptian Exchange (EGX), revealed that EGX is about to launch a market for trading carbon certificates soon, in addition to allowing asset managers to launch new products on the carbon emissions index. El-Dokkany told DNE that EGX will focus on debt instruments during the upcoming period due to its attractiveness in light of the high interest rates, and also work on activating short selling. He also stressed that it is important to work on increasing intra-regional investments and enhance double-entry operations. El-Dokkany added that some operations are likely to be completed in that area during the coming period. According to the EGX chief, EGX aims to complete the axes of developing the capital market. There are three axes, the first of which is to attract and increase liquidity by increasing the investments of government institutions in the Egyptian market, which is essential for activating their dealings, and revitalizing the capital market as a whole. He added that the second file is related to activating individuals' trading through financial technology, and attracting new age groups, as EGX was able to attract about 11,000 new investors last month through new applications. He pointed out that 57% of retail investors are between the ages of 21-40, and more than 60% of dealings were for the age group of 40-60 years. He went on to say that the third file is related to the supply side, especially government proposals through accelerating proposals, as well as financial education with new investment tools in the capital market. The head of EGX revealed that meetings were held with the active market parties over the past days, to restore the confidence of foreign investors in the Egyptian capital market, which initially requires the return of the trust of local investors.
