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Bourse President Mohamed Omran to resign 1st of July 2012

Dr. Mohamed Omran announced his intention to resign a year before his contract expires and get back to his academic work at Cairo University.

Egyptian Bourse President Dr. Mohamed Omran announced that he had decided to resign on the first of July 2012, as soon as the country elects a new president and gets out of the transitional phase, according to the online news portal Masrawy.

Omran is planning to get back to his academic work at Cairo University after giving up his position in the Egyptian bourse.

Omran’s contract officially lasts until the 1st of July 2013, he confirmed on the sidelines of the opening of the new bourse headquarters in Smart Village, yet he is satisfied with what he had offered and achieved in the past months. Therefore, for the next few weeks, he will focus on restructuring the bourse and help in overcoming the burdens of the transitional phase.

The Bourse-chief had acquired his position last September, as a successor of former president Mohamed Abdel Salam. He had sworn to focus on the increase of turnover within the bourse and on convincing companies to register in the market.

Omran had been faced by a lot of criticism from investors due to the continuation of crises, especially in the food industry. This has led to several demonstrations in front of the bourse headquarters, according to Masrawy.