Egypt’s stock exchange mulls restructuring of indices

Big 5

The Egyptian Exchange’s (EGX) board of director is looking to restructure the main indices of the stock market.

Some indices will remain unchanged and others will be removed, while newer ones will be formed, chairman of the EGX Mohamed Farid said in an interview.

This comes within the EGX’s framework to revive trading in response to the requests of foreign institutions and funds in an effort to facilitate the follow-up of the market, Farid added.

He noted that the corporate social responsibility index cannot be monitored, which is a waste of time and cost.

The Egyptian bourse aims to prepare an integrated study of the small- and medium-sized enterprise (SME) market in cooperation with the Financial Regulatory Authority (FRA) in the meantime, the chairman indicated.