Dr. Mostafa Madbouli, the Prime Minister, met today with the Arab Federation of Exchanges (AFE)’ Chairman and Members, in presence of Mr. Mohamed Farid Saleh, EGX chairman, and Njandini Sokumar, the World Federation of Exchanges’ CEO. The meeting was attended by Dr. Mohammad Maait, Minister of Finance, and Hisham Tawfik, Minister of Public Business Sector.
Advisor/ Nader Saad, the official spokesperson for the Prime Minister, stated that the meeting comes as part of the Prime Minister’ keenness to meet with the Arab Exchanges’ heads during their presence in Cairo to attend “AFE 10th Conference”, in order to confirm Egypt’s support for the efforts of cooperation and integration between the Arab exchanges, thus promoting the development efforts in the Arab region.
During the meeting, the Prime Minister stressed on the importance of enhancing coordination and complementarity between the Arab exchanges, especially in light of the important role played by the financial markets in the global economy. The Prime Minister welcomed the transition of the Federation presidency to Egypt during the ongoing meetings, thanking Abu Dhabi Exchange Chairman for his efforts during his presidency.
Prime Minister’ spokesman said that AFE’ chairman and members thanked the Egyptian Government for hosting the meetings of the 10th Conference of the federation, expressing their confidence that Egypt’ presidency will witness more cooperation and coordination between the Arab financial markets, especially with regard to the importance of working on the establishment of an electronic trading system between the Arab exchanges, standardization of rules and regulations concerning the stock exchanges, as well as dispute settlement mechanisms. The Arab exchanges’ heads expressed their full support for the Arab markets’ initiatives.
Mr. Mohamed Farid Saleh, EGX Chairman, pointed that the coming period will witness more efforts to study the dual-listing measures among the stock exchanges and standardizing and simplifying the listing operations, in order to serve the Arab exchanges’ integration objectives and to support the economic development efforts.