August 26, 2019

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  • EFSA to regulate foreign stock trading

    BY AMIRA SALAH-AHMED Cairo: A sudden decision to ban Egyptian brokerages from trading foreign stocks will likely be reversed as guidelines are currently being drawn up to attempt to regulate this activity on the market. Ashraf El-Sharkawy, chairman of the Egyptian Financial Supervisory Authority, told The Egypt Monocle that an article may be added to the amended capital market law to regulate the way local brokerages and investment firms deal with foreign securities. Over the past two weeks, “we’ve had two meetings with representatives of brokerages and investment firms to [discuss] regulating this activity…to make sure they [investors] are buying…

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