The Cabinet’s Information and Decision Support Center (IDSC) has stated that the Egyptian Exchange (EGX) is considered one of the leading financial institutions, where capital market sustainability is concerned.
In 2010, the EGX launched its sustainability index in accordance with the methodology of Standards & Poor’s, becoming the second stock exchange in the world and the first in Africa and the region, said an IDSC report on Sunday 21/5/2023.
The EGX came first in terms of good governance standards especially in terms of the formation of boards of companies listed in the bourse, according to the report, which focused on the state of the financial market at the global and local levels.
It also cited the leading position of the EGX in trading regulations, disclosure requirements, and the enforcement of strict anti-money laundering rules.The report also focused on the important role played by the financial markets in developing the economic sectors.
The financial markets are considered mechanisms to reduce poverty, enhance equality and create jobs for youth, it noted. The report also tackled the performance of the EGX during 2022, pointing that five new companies were listed at a total of 560.6 million pounds worth of capital.
The total number of firms listed in the EGX now stands at 242, including 27 small and medium-sized companies.