El Sharkawy, Sarie Eldin; Capital Market Nominees For Constitution Committee

Awni Abdel Aziz, Chairman of the Division of Securities at the Egyptian Federation of Chambers of Commerce, said Dr. Ashraf El Sharkawy – the Chairman of the Egyptian Financial Supervisory Authority (EFSA) – and Dr. Hani Sarie Eldin – the former Chairman of the Egyptian Capital Market Authority (ECMA), have been nominated to be the non-banking financial sector representatives in the constituent assembly to draft Egypt’s constitution.

The Egyptian Capital Market Association (ECMA) (Chairman Dr. Mohamed E. Taymour), the Egyptian Insurance Supervisory Authority (EISA), Division of Securities at the Egyptian Federation of Chambers of Commerce, the EG-Finance Authority (Chairman Ayman Metwally) and the Egyptian Association for small investment (Chairman Dr. Gihan Gamal) have agreed on selecting El Sharkawy and Sarie Eldin.

“The number of remaining seats in the assembly has reached 11 seats for which about 500 persons are applying.” Abdel Aziz told Amwal Al Ghad

“We have not been officially asked for nominating a representative in the constituent assembly to draft the constitution. Actually there is a possibility of not having a capital market representative inside the assembly.” Awni added

“Whether to have a representative or not shall be declared within the coming few hours.”

In the meanwhile, Dr. Hani Sarie Eldin has said he was officially informed of the nomination decision to be the capital market representative in the constituent assembly.

“I have not decided yet whether to apologize, refuse or to take part in the assembly. Currently, I am watching the parties and civil groups’ stance as I would then take my final decision of whether to participate or not.” Sarie Eldin added