Positive capital market activation program

Chairman of Capital Market Authority (CMA) Abdul Hamid Ibrahim described the government's program for activating capital market as positive and realistic. He stressed that the result of this program would be felt soon, adding that the stock exchange has spared L.E. 50 billion over three years.

In his interview with Al-Ahram reporters on capital market and investment, Ibrahim said that offering public utility projects, such as electricity and telecommunications projects, for sale would inject L.E. 60 billion to the market.

He added that there is an integrated capital market bill that comprises new procedures in the Egyptian market. The suggested bill organized offering of projects for public subscription, set a definition for securities manipulation and organizes dealings of those persons in touch with companies' secrets.

He also noted that securities investors' problems with insurance companies have been solved and that there is a new system for turning insurance policy into compulsory insurance for protecting investors.