Cairo – Mubasher: The Egyptian Exchange (EGX) and the Bombay Stock Exchange (BSE) on Wednesday signed a memorandum of understanding (MoU) regarding mutual cooperation and exchange of information, aimed to increase capital flows and communication channels.
This memorandum provides various opportunities for developing business and different financial and financing products, according to a statement.
Chairman of the EGX Mohamed Omran said that this MoU comes within the framework of the EGX's strategy to cooperate with international markets beyond its traditional scope in Africa, the Middle East, and Europe.
He continued that both the EGX and BSE have a long history and have served their economies for more than 100 years.
"We look forward to fruitful cooperation with the BSE to maximise the benefits of both exchanges. We also aim at joint listing and trading of securities that will provide new investment alternatives to investors in both markets," he added.
Ashishkumar Chauhan, CEO of the BSE, said that “the MoU between the BSE and the EGX represents a significant step in uniting the efforts of both exchanges to build capital flows, and we are pleased to sign this memorandum with one of the oldest exchanges in the world."
“We are confident that this integration will go a long way in building our expertise in product development and enhancing international connectivity,” Chauhan concluded.
