EFSA finalises amendments to commodity exchange draft law

The Egyptian Financial Supervisory Authority (EFSA) finalised the amendments to the draft law 95 of 1992 to establish a commodity exchange in the Capital Market, and intends to discuss them with the parties of the capital market in the coming days, chairperson of the authority Sherif Samy told Daily News Egypt.

He explained that the new regulations of the law are designed to regulate the relationship between the parties that deal with trading goods contracts, which include the exchange market itself, the suppliers of goods, brokerage firms, and traders of these contracts.

Samy revealed a number of features of the regulations included in the draft, such as establishing a joint company to establish the commodity exchange market.

The regulations did not assign a specific party to establish the commodity exchange. It is possible to assign it to the Egyptian Exchange (EGX) or any subsidiary of the Ministry of Supply and Internal Trading.