Torgoman: Cooperation between ESE and CMA a necessity
Egypt, Economics, 4/2/2003

Sameh El-Torgoman, Head of Egyptian Stock Exchange said the coming period will witness a cooperation between the ESE and the Capital Market Authority (CMA) with the aim of increasing the volume of circulation inside the money market and offering the necessary liquidity, which is considered the most important factor for strengthening the financial status and encouraging the investors as well as the financial institutions to increase their capital.

Addressing a seminar organized by Thiba Academy for Sciences on conditions in the ESE in the light of the latest developments, Torgoman referred to the necessity of working out all necessary legislations and rules for settling disputes, and ensuring tight supervision, represented in the ESE and the CMA to guarantee a strong Stock Exchange.

He pinpointed that the number of foreign investors within the ESE do not exceed 25 per cent, a rate which is not expected to increase in the coming period before stability is restored to the region, along with the availability of a considerable volume of liquidity as well as strong new investment companies.

The ESE is considered one of the largest emerging markets in the region ranking second among the Arab states, while the Saudi Capital Market occupies the first position, according to Torgoman.

Previous Stories:
  New Egypt-Russia trade agreement to be signed in march   (1/25/2003)
  New monetary policy to achieve interest rate flexibility, says CBE chairman   (11/28/2002)
  CBE to play active role in money market   (11/28/2002)
  Egypt's banks forced to achieve world standards in operation and service   (5/21/2002)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search