Monday September 11 2017
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Egypt
Link: http://www.efsa.gov.eg/content/efsa_ar/efsa_news/efsa_602.htm
On the 10th of September 2017, the Egyptian Financial Supervisory Authority (EFSA) and the Egyptian Credit Information Company signed an Agreement which will establish a Movable Securities Register.
This development will ensure greater transparency when recording the trading of securities and collateral.
Speaking on behalf of the Egyptian FSA Dr. Mohammed Omran stressed that the Authority has ensured that the law and its executive regulations include the preparation of an electronic record for the publication of the movable securities and the creation of an electronic register for the implementation of the guarantees.
Mohammed Kafafi, Chairman of the Board of Directors of the Egyptian Company for Credit Information confirmed that the company will work to complete the establishment of the registry within the time period specified within six months.
For additional information please click the link above.