The Prime Minister monitors stock market and non-bank financial services developments
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The Prime Minister monitors stock market and non-bank financial services developments

The Prime Minister monitors stock market and non-bank financial services developments

1/11/2023

Dr. Mostafa Madbouly, Prime Minister, met yesterday evening with Dr. Mohamed Farid, Chairman of the Board of Directors of the General Authority for Financial Supervision, and Ramy El Dokani, Chairman of the Board of Directors of the Egyptian Stock Exchange, to review efforts and follow up on the latest developments in non-banking financial activities, particularly stock market performance indicators. The Authority's mission is to improve the efficiency and competitiveness of non-banking financial services such as insurance, real estate financing, financial leasing, factoring, consumer financing, microfinance, and the register of movable guarantees.

At the start of the meeting, the Prime Minister stated that the government is committed to assisting the Authority in developing all non-banking financial services.

Dr. Mostafa Madbouly emphasised the importance of all parties working together to coordinate and integrate efforts and plans to improve the performance of the Egyptian stock market, as well as developing and implementing work plans and programmes to improve the efficiency and competitiveness of the various services provided by the non-banking financial sector.

Madbouly also confirmed that the government will push to complete the programme to broaden the ownership base of state-owned enterprises, which includes the stock market as one of its implementation mechanisms.