News
The Capital Market Forum Which was organized by the Capital Market Authority was held yesterday in Cairo. The forum focused on the plans and the programs for developing and activating the Egyptian Capital Market.
During the forum Dr. Ahmed Saad the chairman of the capital market authority (CMA) has discussed the future vision of the CMA for increasing the activity and efficiency of the market, the vision includes the following:
Developing and promoting the Egyptian Capital market, applying of the internationa standards and the practices adhered to in developed and emerging capital markets, and resuming our . efforts to improve the performance of the regulatory role of the CMA.
The Strategic plan of the CMA during the period 2008-2012 was also discussed and this plan addresses “protection of the investors, developing the capital market and the preservation of its integrity, reduce the market risk, and applying the principles of fairness and transparency”.
The new strategic plan of the CMA during the coming five years includes a number of strategic objectives, the most important of them follows:
1. Ongoing development of the regulatory framework of the CMA in order to meet the continuing and growing challenges of the capital markets.
2. Enhancing the role of the market in providing medium and long term financing.
3. Encouraging and supporting the programs for developing public awareness in all fields concerning and for the various parties of the financial community.
4. Ongoing development of the CMA’s institutional capacity building and internal operating systems in order to cope with the market development.
5. Ongoign development of the infrastructure of the capital market.
6. Creating an advanced and effective market of financial derivatives and commodities.
During the forum Dr. Ahmed Saad presented the plans and programs of the CMA in year 2008 which target the objectives of the strategic plan of the CMA. The plans and programs of the CMA include the following:
First; Developing and enhancing the capital market structure program through:
1. Creating an advanced derivatives and commodities markets.
2. Launching the Nile exchange for small and medium projects.
3. Developing the by-laws and regulations of the Investor Protection Fund.
4. Activating the regulatory framework for the margin trading and the short selling within the same day trading system.
5. Activating the secondary market for government and corporate bonds and issuing the regulatory rules and procedures of securitization of financial rights.
6. Issuance of the regulatory framework governing the issuance and trading the medium term and long term finance bonds (sukuk).
7. Developing of the rules of listing and de-listing of securities in the stock exchange.
8. Modify and develop merger and acquisition rules.
9. Activating the new regulatory and procedural framework for mutual funds.
10. Activate the regulatory framework for the exchange traded funds, and the market maker activity.
11. Develop the regulatory and the operational activity of the information dissemination.
Second; Programs for supporting and developing the performance of securities intermediaries , improving the performance for its employees and granting the required approvals and licenses.
Third; A program of institutional reform and enhancing the performance of the regulatory framework of the CMA. Fourth; Programme of increasing investment awareness, through:
1. Developing the website part “ Awareness of the Egyptian investor ” to contribute in the efforts of investor’s education through adding all new aspects of the financial market and the fundamentals of investment.
2. Continuing the CMA’s website development.
3. Issuance of different publications as; the series of educating the Egyptian investor, in addition to: shares’s split guide, treasury shares manual and the manual for stoc options plan.
4. Improving the work at the CMA’s Call Center to increase investor’s education.
5. Issuance of capital market legislation Encyclopedia.
6. Issuing and printing the new Egyptian auditing standards.
7. Issuing a manual for the services provided by the CMA, Which includes the following: Documents to be provided to the CMA, the fees to be paid and the different durations required for examining different applications.
8. Holidng pecialized training sessions for journalists and media professionals.
9. Holding a number of capital market press fora in order to enhance the relations with all market participants and to familiarize them with all the market development.
This in addition discussing short selling and same day trading , which are considered as tools for hedging risk, which will increase the trading activity and increase liquidity in the market in order to enhance the market and reduce its volatility. This new mechanism is provided for the investors to face the risk of changing prices of the securities in which they invest.
During the forum Dr. Ahmed Saad the chairman of the capital market authority (CMA) has discussed the future vision of the CMA for increasing the activity and efficiency of the market, the vision includes the following:
Developing and promoting the Egyptian Capital market, applying of the internationa standards and the practices adhered to in developed and emerging capital markets, and resuming our . efforts to improve the performance of the regulatory role of the CMA.
The Strategic plan of the CMA during the period 2008-2012 was also discussed and this plan addresses “protection of the investors, developing the capital market and the preservation of its integrity, reduce the market risk, and applying the principles of fairness and transparency”.
The new strategic plan of the CMA during the coming five years includes a number of strategic objectives, the most important of them follows:
1. Ongoing development of the regulatory framework of the CMA in order to meet the continuing and growing challenges of the capital markets.
2. Enhancing the role of the market in providing medium and long term financing.
3. Encouraging and supporting the programs for developing public awareness in all fields concerning and for the various parties of the financial community.
4. Ongoing development of the CMA’s institutional capacity building and internal operating systems in order to cope with the market development.
5. Ongoign development of the infrastructure of the capital market.
6. Creating an advanced and effective market of financial derivatives and commodities.
During the forum Dr. Ahmed Saad presented the plans and programs of the CMA in year 2008 which target the objectives of the strategic plan of the CMA. The plans and programs of the CMA include the following:
First; Developing and enhancing the capital market structure program through:
1. Creating an advanced derivatives and commodities markets.
2. Launching the Nile exchange for small and medium projects.
3. Developing the by-laws and regulations of the Investor Protection Fund.
4. Activating the regulatory framework for the margin trading and the short selling within the same day trading system.
5. Activating the secondary market for government and corporate bonds and issuing the regulatory rules and procedures of securitization of financial rights.
6. Issuance of the regulatory framework governing the issuance and trading the medium term and long term finance bonds (sukuk).
7. Developing of the rules of listing and de-listing of securities in the stock exchange.
8. Modify and develop merger and acquisition rules.
9. Activating the new regulatory and procedural framework for mutual funds.
10. Activate the regulatory framework for the exchange traded funds, and the market maker activity.
11. Develop the regulatory and the operational activity of the information dissemination.
Second; Programs for supporting and developing the performance of securities intermediaries , improving the performance for its employees and granting the required approvals and licenses.
Third; A program of institutional reform and enhancing the performance of the regulatory framework of the CMA. Fourth; Programme of increasing investment awareness, through:
1. Developing the website part “ Awareness of the Egyptian investor ” to contribute in the efforts of investor’s education through adding all new aspects of the financial market and the fundamentals of investment.
2. Continuing the CMA’s website development.
3. Issuance of different publications as; the series of educating the Egyptian investor, in addition to: shares’s split guide, treasury shares manual and the manual for stoc options plan.
4. Improving the work at the CMA’s Call Center to increase investor’s education.
5. Issuance of capital market legislation Encyclopedia.
6. Issuing and printing the new Egyptian auditing standards.
7. Issuing a manual for the services provided by the CMA, Which includes the following: Documents to be provided to the CMA, the fees to be paid and the different durations required for examining different applications.
8. Holidng pecialized training sessions for journalists and media professionals.
9. Holding a number of capital market press fora in order to enhance the relations with all market participants and to familiarize them with all the market development.
This in addition discussing short selling and same day trading , which are considered as tools for hedging risk, which will increase the trading activity and increase liquidity in the market in order to enhance the market and reduce its volatility. This new mechanism is provided for the investors to face the risk of changing prices of the securities in which they invest.