Newly-appointed Egyptian Exchange (EGX) chairperson Rami El-Dokany and vice chairperson Heba El Serafi met with the Financial Regulatory Authority’s chairperson Mohamed Farid yesterday to discuss efforts to strengthen the EGX’s performance.

El-Dokany, who was appointed late last week, succeeded Farid after the former EGX boss was selected as acting FRA head by the president in early August.

The current EGX head stressed that he will work on coordinating with all parties to adopt and implement necessary policies to strengthen the EGX’s performance in order to boost liquidity and circulation, highlighting the importance of further coordination and integration among all concerned bodies.

In a FRA statement, Farid also emphasized the value of coordination and partnership with all relevant parties to complete development efforts to improve the EGX’s efficiency and competitiveness, allowing the stock market to continue supporting the government’s efforts in achieving its economic and social development goals.

We can expect increased cooperation between the FRA, the EGX and all concerned parties to maintain market stability, the safety of its transactions, and the rights of its investors, said Farid.

Technical teams will be established between the two to boost cooperation on various issues and expedite the development process of the Egyptian capital market.