Egyptian authorities are working on a facelift of the country’s capital market in a bid to lure more foreign portfolios. On March 17, the Financial Regulatory Authority approved a contract and statutes of a company to be charged with running the country’s first futures market, opening the way for trading in commodities through the Egyptian Exchange.
Economists say the futures contract exchange will enhance the competitiveness of the Egyptian market in general, paving the way for the launch of a number of futures contracts and commodity exchanges, such as for natural gas, cotton, flour and corn.
