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The Egyptian Exchange Chairman Meets With the Egyptian Businessmen's Association (EBA)
Oct 21, 2014
Hosted by the Egyptian Businessmen Association, Dr. Mohammad Omran Chairman of the Egyptian Stock Exchange, meet with EBA members to introduce The Egyptian Exchange as a mean of finance for companies.  Through the meeting he stated the importance of listing companies providing them with fair assessment and allowing best strategy for its success.  He stressed on the importance of associated application to improve the governance rules of the market value of the company and protect it from future crises. 
 
Mohamed Omran, said that what is happening in the global financial markets comes in the context of work pattern markets experiencing ups and downs and waves correction from period to period.  The recent declines was a reaction to the expectations of the IMF and World Bank global economic growth pace is less than expected, with the knowledge that it the third time in which they are reducing the growth forecast for next year, which had a negative impact on global markets in America and Europe, the Gulf and therefore the Egyptian market. 
 
Dr Omran stated that the fundamental shift in the mechanism of action is having the market taking the initiative to attract new companies and promising institutions to join The Egyptian Stock Market.  Where EGX team will work to hold meetings with companies to explain the benefits of enrollment in the stock market, not focusing on Cairo but approaching companies in various governorates too. 
 
Omran said that the stock market focuses on cooperation with institutions and business associations in Egypt to spread more awareness of the role of the stock market, stressing that the presence of an active money market contribute to lowering the cost of financing and increased rates of economic growth rates ranging between 0.5-1%. 
 
For his part, Maged Shawky, head of the Stock Exchanges committee at EBA stated that the association is working on a paper containing proposals businessmen about investment-related laws and restriction in the stock market as well as to raise awareness of the work of the member companies to motivate to engage in the Egyptian stock market. 
 
EBA general manager, Mahmoud Fahmy, stressed on the need to involve business in the laws that are issued indicating that the committee legislation will hold a series of meetings to prepare the comments of businessmen on the Bankruptcy law and preparing a proposal on the system of tax and saw businessmen in amendments to the Listing Rules in the stock market. 
 
The meeting was introduced by Engineer Amr Alouba Vice President of EBA, who stressed on the need to work in educating the business community about the stock market as a tool for flexible funding for the expansion of companies as well as to motivate companies to listing and trading in the money markets.

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