Index funds delayed to January, secondary market for bonds awaits consensus: EGX Chairman

Index funds to the registration committee were delayed from 30 December to the first or second week of January, according to Chairman of the Egyptian Stock Exchange (EGX), Mohammed Omran.

Index funds allow for stock indexes to be exchanged as documents through funds run by professional fund management companies.

During a Saturday press conference regarding the results of 2014 stock exchange, Omran stated that the EGX played its part in bonds exchange. The rest of the market players' role is up to them, in light of their enthusiasm on the subject.

With the contribution of the Central Bank of Egypt (CBE) and the Egyptian Financial Supervisory Authority (EFSA) through the years, the government is attempting to activate the secondary market for bonds. This will allow for creating a market for public bonds and offering exchange, following international capital market systems.