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Source: Thomson Reuters.   Last updated on Mar 19, 2019 at 02:49AM (UTC).   Delayed by at least 15 minutes.
“Ring the Bell” Ceremony at the Egyptian Exchange
Mar 04, 2019
In cooperation with the International Finance Corporation (IFC), The United Nations Global Compact network and The Egyptian Institute of Directors (EIOD), The Egyptian Exchange (EGX) held a ringing of bell ceremony and conference celebrating women’s empowerment week.

H.E. Dr. Sahar Nasr, Minister of Investment & International Cooperation participated in the opening of trading session, on the occasion of international women's day, in the presence of Mohamed Farid Saleh, Chairman of EGX, Walid Labadi, country manager, Egypt, Libya & Yamen-IFC, Maya Morsi president of Egypt’s National Council for Women along with representatives from entities supporting women’s empowerment.

Dr. Sahar Nasr, Minister of Investment & International Cooperation confirmed that empowering women from the economic perspective contributes in promoting economic growth and achieving economic and social development, noting that the Investment law states stipulates gender equality.  She added that as a mean of supporting women entrepreneurs and women's projects, the ministry dedicated 50% of its grants for women.

Mohamed Farid, Chairman of The Egyptian Exchange, stated EGX’s full commitment to support all efforts to empower women and strengthen their role in the political, economic and social aspects as a key partner in achieving economic inclusion and sustainable development. He continued that EGX’s board focuses on supporting women.  He noted that global studies demonstrated that the participation of women in senior leadership positions had positive impact in corporate performance.  Farid continued; "the representation of women on boards of listed companies rose to 10.2% in 2018 compared to 9.6% in 2017. 45% of listed companies have at least one female among their board members”.

It is worth mentioning that EGX signed an MOU with the business school at American University in Cairo (AUC) in July 2017 to enhance the participation and representation of women on boards of listed companies. EGX is working in coordination with the AUC to create a database for women employees capable of joining corporate boards, in parallel with the evolution of women's participation on boards of listed companies.

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