Egypt’s new exchange
- Date: 23-Sep-2020
- Source: Ahram
- Sector:Financial Markets
- Country:Egypt
Egypt’s new exchange
The government announced the establishment of Egypt's first Mercantile Exchange (EME) recently, which, having capital of around LE90 million, will be jointly owned by commercial and investment banks and government entities.
Some may confuse the idea of a Mercantile Exchange with a commodity market, like those for fruit and vegetables, but in fact the new exchange is a bourse that needed the approval of the cabinet.
The newly founded EME, whose administrative building will be located in the New Cairo district of Tagamou, will operate as an electronic platform for the business-to-business trading of commodities.
The EME will function like a stock exchange, with anyone using the platform, whether buyer or seller, needing to be registered. Its role is that of a matchmaker between buyers and sellers of
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