Amwal Al Ghad Unveils Behind-The-Scenes Deals At MCDR

Meetings were held and deals were made at Misr for Central Clearing, Depository and Registry (MCDR) between candidates for the board of directors and the employees working in securities sector in the last days before the board of directors’ election, which is expected to be held next Wednesday. Amwal Al Ghad was informed that the current chairman Mohamed Abdel Salam is closer to the chairman position than his only rival Ashraf Mahmoud El-Dab’.

Khaled Serry Siam, former president of the Egyptian Exchange (EGX) and head of the non-banking financial services institute; Nidal Al-Kassem Asser, assistant sub-governor of reserve management unit at the Central Bank of Egypt (CBE); Tarek Abdel Bary, managing director of MCDR, are seen to be the most likely candidates to hold the positions of the experienced members of the board of directors.

In addition, the negotiations which were held behind the scenes implied that Ahmed Ekram Helmy Mostafa, Osama Eissa Amer, Galal Ahmed Mohamed El-Ganzoury and Asser Ahmed Mostafa Ahmed Omara are the least likely candidates for the membership of the board of directors.

The main competitors for the membership of representatives of securities brokerage firms are Awni Abdel Aziz Youssef Ali, Chairman of the Division of Securities at the Egyptian Federation of Chambers of Commerce, who is supported by a large number of securities firms, and Mohamed Maher Mohamed Ali, managing director of Prime Holding and Mohamed Fathalla who is supported by Cairo Capital Securities chaired by Ashraf Salman and Arab Gathering Investment chaired by Khaled Abou Heif.

Deals made behind the scenes ruled out the victory of Yasser Mahmoud Rashed and Ahmed Mahrous Abbas Abu Hussein who are the main rivals for Mohamed Fathalla. The least likely candidates for the position are the chairman of Arab Finance Company Osama Ali Abdel Monem Mourad, Osama Mohamed Mohamed Shouman, Saeed Ebrahim Mousa Hilal, Abdel Rahman Abdel Rahman Mahmoud Donia, Azza Sayed Ahmed Abdel Rahman Derag, Mohamed Saeed Abdel Hady Abdel Fattah, Mohamed Mahmoud Abdel Hamid Mobarak and the chairman of Solidaire Securities Brokerage Mohamed Mahmoud Mohamed El-Sahragty.

Amr Youssef Hassan El-Ganainy is the most likely candidate for the first seat allocated for the representatives of Securities Trustees. Pharos Securities Brokerage’s representative Sherif Abdel Khalek Mohamed Heshmat and Pioneers Securities’ CEO Yasser Mohamed Zaki Ebrahim are competing over the second seat.