The Banking Executive Magazine - April 2023 Issue

Banque du Caire, Misr Insurance Banque du Caire, Misr Insurance TO BE OFFERED ON STOCK EXCHANGE Companies offered on the stock ex- change, including Banque du Caire and Misr Insurance Company, will attract local and foreign investors, Mohamed Maher, head of the Egypt- ian Capital Market Association (ECMA), said. The data of companies to be offered on the stock exchange will be re- leased next week, he added. Maher added in televised statements that the flotation of the pound rela- tively provided hard currency, prompting the market to move in a positive direction. The market capital of the Egyptian Stock Exchange rose by the end of trading session to LE1.112 trillion, amid a collective rise in the stock market indices, as the market capital recorded the highest historical value. Stock indexes have a long way to go to reflect the value of real assets, Rania Yacoub, a financial market ex- pert, said, pointing out that the stock market’s rise to LE1.112 trillion is still far from the real value of Egyptian as- sets. the BANKING EXECUTIVE 18 ISSUE 172 APRIL 2023