EGX Chairman’s Resignation Rejected As Osama Saleh Intervenes

Egypt’s newly-assigned Prime Minister Hesham Kandil has rejected the resignation submitted by Dr. Mohamed Omran, the chairman of the Egyptian Exchange (EGX).

Kandil’s rejection comes after the Investment Minister Osama Saleh’s intervention as he managed to convince Omran to stay in office for the coming phase.

Osama Saleh told Amwal Al Ghad that the current situation requires a state of stability regarding the state’s institutions so as to start procedures of support and development.

Saleh asserted that he managed to convince Dr. Omran so as to stay in office so that he would proceed with EGX’s development plans afterwards.

“Omran would then work on attracting further firms through facilitating EGX listing requirements.” Saleh added

Worth mentioning, Omran had announced last April 12th during EGX’s opening new headquarters in Smart Village that he awaits the formation of the new cabinet so as to submit his resignation and return to his academic career in Cairo University.