Amending Capital Market Law to facilitate SMEs registration

Mohamed Omran, chairperson of the Egyptian stock exchange (EGX), said that there is a trend to amend Article No. 24 of the Capital Market Law, which involves the charges of registering companies in EGX. This would reduce registration fees for small and medium enterprises (SMEs), consequently facilitating their registration in the Nile Stock Exchange (NILEX).

Omran explained, in response to Daily News Egypt’s questions, that the administration of EGX is doing its best to attract the largest possible number of SMEs to NILEX and that it is facing several difficulties in this regard.

He added that the rumours about EGX having lengthy procedures to register these companies in NILEX are untrue. He noted that the registration is difficult due to the nature of these companies and their administration structure, as well as the difficulty of organising the transition from individual ownership to institutional ownership.