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MoIC and EGX celebrate World Investor Day in support of financial literacy

Capital markets play a key role in financing large, as well as small and medium-sized companies, explained MoICMin Al Mashat

By: Business Today Egypt

Wed, Oct. 6, 2021

Celebrating World Investor Week 2021, Minister of International Cooperation Dr. Rania Al Mashat, along with several delegates from listed companies and universities, rang the Egyptian Exchange’s (EGX) opening of trading bell on Tuesday.

World Investor Week was established in 2017 by the International Securities Organization to boost financial literacy and investor culture in capital markets. More than 80 international stock markets participate in the event, which lasts from October 4 to 11.

Minister Al Mashat highlighted the importance of the event in promoting the EGX’s activities in role in the development of Egypt’s economy, pointing out the importance of capital markets in the coming period due to the world's growing demand for green financing tools to support 2030 SDGs.

She also indicated that capital markets play a key role in financing large, as well as small and medium-sized companies, which enable them to finance their expansions, increase their business volume, and enhance their growth opportunities.

EGX’s participation in World Investor Week reflects Egypt’s growing engagement in supporting and promoting financial culture and literacy, says Dr. Mohamed Farid, chairman of the Egyptian Exchange.

Farid also revealed that the EGX has been working on developing and producing educational content with several ministries to contribute to financial literacy rates.

Praising the EGX’s efforts to increase financial literacy and culture, and raise awareness of the basics of investing and saving on the stock market, President of the World Stock Exchange Union, Nadini Sokumar explained that financial literary is not optional and greatly contributes to sustainable economic health.

The opening of the trading session was also attended by Mahmoud Matini, President of Ain Shams University, Sameh Farid, President of New Giza University, as well as Sayed El-Saifi, Dean of the Faculty of Commerce at Alexandria University, representatives from Al-Nahda University, Badr and Future University, and representatives of the Egyptian Securities Association, the Egyptian Society of Technical Analysts, the Egyptian Association for Direct Investment, and the Egyptian Association of Investment Managers.

The current management believes that the process of enhancing financial culture and raising levels of financial awareness and knowledge is one of the most important targets of the value chain that it adopts to develop and develop the market, to raise efficiency and competitiveness, by increasing the number of listed companies on the “supply side” and the number of investors "the demand side", as well as developing products New financial mechanisms while improving the environment for doing trading and listing business, Farid added.