Egypt cabinet approves lowering bourse trading fees

The Egyptian Cabinet decided to reduce bourse trading fees in a bid to boost the Egyptian Stock Exchange (EGX) and make it more attractive to investors, according to head of the Financial Regulatory Authority (FRA) Mohamed Omran.

The cabinet has agreed on a package of decisions suggested by FRA including fees on EGX transactions that would be lowered to 0.010 percent from 0.012 percent, while reducing charges on clearing and settlement services to 0.010 percent from 0.012.5 percent.

In addition, subscriptions to the Investor Protection Fund were cut by 50 percent to 0.005 percent of the value of the transaction from 0.010%.

  The decisions also included a reduction in trading in bonds fees, debt instruments and other registered debt instruments by a 50 percent which contributes to increasing dealing in debt instruments.