The total number of companies listed in the Arab markets reached 1,662 companies with a capital of $3.1 trillion by the end of 2019, Chairman of the Board of Directors of the Egyptian Exchange (EGX) Mohamed Farid said Monday.
Farid, who was the head of the Federation of Arab Stock Exchanges starting from April 2019, indicated that the federation currently includes 21 members representing about 17 stock exchanges and commodities and 4 clearing companies, in addition to many brokerage companies and banks in the Arab region.
This came during the annual meeting of the Federation of Arab Exchanges hosted by the Kingdom of Saudi Arabia, using technological means to save lives and ensure continuity of work, in light of the continuing repercussions of the Corona pandemic.
He pointed out that the federation was able to bring about a qualitative leap at the institutional and technical level,
Such leap would ensure the union continued to play its role in a more efficient manner in supporting Arab stock exchanges, enhancing their capabilities and competitive standing, and enhancing intra-Arab trade in securities, as one of the most important sources. Financing economic and social development plans for our Arab nation.
During his speech, Farid reviewed the strategy of the work of the Union under the Presidency of the Egyptian Exchange.
The strategy was based on several main axes, the most important of which is working to put the Union on a stable path in the long term, by formulating policies that contribute to the development and development of its business and activities in order to enhance and facilitate inter-Arab investments in securities, as well as developing a joint cooperation and coordination platform for exchanging experiences and seeking opinions between all relevant parties.
