25 Mar 2021

The Deputy Governor of the Central Bank of Egypt (CBE) has revealed that the CBE has established a EGP1bn fund to pump liquidity into the Egyptian Stock Exchange (EGX). He said that the liquidity allocated to the fund will be financed from allocations that were announced by the CBE last year worth EGP20bn to support the Egyptian financial markets.

He added that the goal of the fund is to protect the stability of the EGX, as well as developing financial markets in Egypt. He also said that the EGP1bn allocated to the fund could be increased in the future as needed. (Source: al-Sharq Business News, al-Mal Newspaper)