Egypt wins Euro-Asian stock exchanges federation presidency against Iran

The Federation of Euro-Asian Stock Exchanges’ (FEAS) General Assembly has elected Mohamed Omran, Chairman of the Egyptian Exchange (EGX), after garnering the majority of votes for the federation presidency for the second consecutive time.

In the presence of 29 head of European, Asian and Arab stock markets, EGX had 24 votes against Iran Fara Bourse, as the first FEAS president from outside Turkey since the federation establishment 20 years ago.

The General Assembly appreciated the Egyptian bourse’s efforts during its presidency for FEAS in the first term, notably in improving the federation’s corporate governance standards and maximising the member exchanges’ capabilities, as well as to developing the trade surveillance efforts.

Omran expressed his pleasure and appreciation for FEAS general assembly confidence, stressing that this election is a recognition for EGX ongoing efforts in the recent years on the international and regional levels, stating that those steps contribute for promoting the investment climate in Egypt.

He said that despite of the difficulties faced by FEAS during the recent period, but the member exchanges realised the importance of the lineup behind EGX’s leadership during the coming period to restructure the federation and its position on the global investment map.

The FEAS is one of the largest regional associations with a market capitalisation approaching $1 trillion, more than 4500 companies and the annual trading value of the member exchanges is about $ ½ trillion.