El-Sheikh emphasized that the primary objective of this initiative is to address concerns surrounding potential manipulation in the auction session, a critical factor influencing the closing price
The Egyptian stock market has been developing the index for a while now, with former EGX head Rami El-Dokani telling media in August that it partnered with Standard & Poor’s (S&P) to facilitate the index’s launch between October and November
Egypt is currently implementing measures to develop the local real estate sector, including a recent draft law bill for the establishment of a national electronic database for real estate projects
The registry aims to raise the quality of disclosures to the stock market including timing and content, ultimately boosting the market’s efficiency and improving communication between market stakeholders, the statement wrote
According to the EGX website, El Sheikh has served as vice chairman of the EGX since 2018, and holds a seat on several EGX-affiliated entities
