On the virtue of pursuing the CMA Strategy of developing the capital market , protecting investors , limiting non-commercial risks, and observing international standards governing international capital markets, the CMA convened, last week, a work shop in collaboration with International City Group. The workshop aimed at discussing comparing international financial markets with Egyptian market, discussing the requirements of transforming Egypt into a regional financial centre in the Middle East and Africa, and finally the workshop discussed how to develop the Egyptian bond market .The work shop was inaugurated by CMA Chairman Dr. Hani Sarei El Din. On part of International City Bank, presentations were introduced by consultant for Public Sector Affairs, Seth Thomas and Director of New York Governmental Relations, Mr. Robert Khan. From City Bank Egypt, the work shop was attended by Mr. Nehad Saliba, General Director of City Bank Egypt, Ms. Ghada Al Bialy Director of Public Sector Finance and Governmental Relations Department, Mr. Tarek Al Nahhas Director of Credit and Finance Department, Mr. Yousef Sandila Supervisor of Treasury Department and Mr. Alfredo Rodriguez Director of Trade Credit Department.
The work shop was arranged during Dr. Sarei El Din’s visit to New York last month with the target of enhancing CMA efforts in pursuing its capital market development plan through institutional reform , boosting regulation efficiency as well as its organizational framework and exchanging experience and information with represented entities .
The work shop was attended by a number of senior officials and employees of the CMA and representatives of regulatory authorities and entities, such as the Mortgage Finance Authority, Egyptian Central Bank, Ministry of Finance, Misr Clearing, Depository and Central Registry (MCDR) and the Egyptian Stock Exchange. The following prominent figures attended the work shop:
Mr. Mohammed Abdul Salam – Chairman of MCDR
Mr. Osama Saleh – Chairman of the Mortgage Finance Authority
Dr. Ahmad Saad – Consultant of CMA Chairman
Mr. Mohmmed Omran – Deputy Chairman of Cairo and Alexandria
Stock Exchanges (CASE)
Mr. Alaa Al Sabea – Member of CASE board of directors
And a group of representatives of financial institutions in Egypt.
During the work shop, Mr. Seth Thomas presented a lecture on international financial centers, elements of their success and development strategies. He also explored experiences of international and regional markets in establishing international financial centers.
Mr. Robert Khan delivered a lecture on “Establishing and Developing Local Bond Markets” and their positive impact on capital markets and demonstrated practical cases of regional markets in the Middle East and North Africa.