The Egyptian Exchange Launches an Initiative to Support 57357 Hospital

The Egyptian Exchange Launches an Initiative to Support 57357 Hospital

The Egyptian Exchange' Board in its last meeting adopted an initiative to support the children cancer hospital 57357 through the capital market mechanisms, as the financial instruments and mechanisms used in many countries worldwide for social purposes.

Dr. Mohammad Omran, EGX Chairman, stated that the initiative will focus on the community sustainability principle, which aims to achieve financial independence for the social institutions through the development of an optional investment framework that ensures the sustainability and that maximizes the return earned by the social instit ution.
 
He stressed that this initiative is part of 2014-2017 EGX strategy to deepen the community participation, pointing that the board delegated him to discuss with the Egyptian Financial Supervisory Authority (EFSA), Misr for Central Clearing, Depository and Registry (MCDR), the hospital board of trustees and the various market parties to determine the best ways to support the hospital, mentioning that many proposals will be discussed about financially supporting the hospital's ability to cope with the expected expansion and increase its capacity by encouraging the market parties, investors and companies, to voluntarily contribute to launch an investment fund to support the organization whether through the trading operations or dividends.

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