Cyprus – Egyptian Stock Exchanges set to enhance cooperation

Cyprus – Egyptian Stock Exchanges set to enhance cooperation

The Chairman of the Egyptian Exchange, Mohamed Omran, visited on Friday the Cyprus Stock Exchange with a view to discuss ways to further enhance existing cooperation between the two Exchanges.

According to a press release, Omran had a meeting with Nondas Cl. Metaxas, Director General – CEO of the Cyprus Stock Exchange and other officials.

The two Stock Exchanges have an excellent relationship which is based on a relevant Memorandum of Understanding (MOU) signed in 2008, the press release read, adding that the scope of the MOU covers various areas of co-operation between the two Stock Exchanges, including consultation services, exchange of information and as well as a number of other important issues with regards to regulated capital markets.

The purpose of the meeting was to explore the possibilities for expanding this co-operation and strengthening existing ties between the Stock Exchanges and the two capital markets, in general, it said.

Both parties emphasised the strong similarities that characterise the two markets, as well as the historical and geographical proximity that the two countries have, it noted.

They also stressed the close-cooperation that both organisations have on an international level and especially in a number of international Federations / Organisations, with regards to securities issues, the press release said.

Both parties agreed to further intensify their efforts in a more practical mode and to further strengthen their cooperation, which as it is expected could bring positive results for mutual benefit, the press release concluded.