This protocol is designed to bolster cooperation between the two entities, foster collaborative initiatives, and streamline the sharing of expertise and investment insights.
The Chairman of the Board of Directors of the Egyptian Exchange (EGX), Ahmed El-Sheikh, and the Chairman of the Board of Governors of the Iraq Stock Exchange (ISX), Thaer Hashem, have formally endorsed a collaborative agreement between their countries’ exchanges on Monday.
This protocol is designed to bolster cooperation between the two entities, foster collaborative initiatives, and streamline the sharing of expertise and investment insights.
It places a special emphasis on boosting legislative processes, raising investment awareness, attracting reciprocal investments, and guiding savings toward securities.
Central to the agreement is the joint effort to transition towards a digital economy to fortify the competitive capacities of both stock markets.
El-Sheikh highlighted that both parties will explore avenues to bolster and diversify the range of financial products available to investors, as well as to enhance liquidity in both markets.
Hashem stressed that the protocol presents an opportunity to refine the infrastructure of the financial market, amplify investment awareness, and attract mutual investments between the two nations.
It is pertinent to note that the Egyptian stock exchange registered a total trading value of approximately EGP 1,014 billion in July, with a trading volume of about 22,089 million shares executed in 2215,000 transactions.
Stocks constituted 10.66% of the total trading value, while bonds and treasury bills represented roughly 89.34% of the trading value during the same period.
