The Egyptian Exchange (EGX),
Egypt's
stock exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...
, comprises two exchanges,
Cairo and
Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the
chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
of the Egyptian Exchange is Mohamed Farid.
Transactions taking place in the stock exchange is not subject to capital gain tax. Dividends distributed by companies listed on the exchange to shareholders are not subject to tax. However, in 2013, a 10% capital gain tax applicable on mergers and acquisitions was imposed on the exchange. In 2013, Finance Ministry announced that the government intended to cancel a 10 percent capital gains tax imposed on mergers and acquisitions as well as a planned tax on cash dividends.
The Egyptian stock exchange plummeted 6.25% following the beginning of the
Egyptian revolution of 2011
The 2011 Egyptian revolution, also known as the 25 January revolution ( ar, ثورة ٢٥ يناير; ), began on 25 January 2011 and spread across Egypt. The date was set by various youth groups to coincide with the annual Egyptian "Police ho ...
on 25 January. It closed at the end of trading on 27 January after the benchmark EGX 30 Index (EGX30) plunged 16 percent that week amid the uprising. The exchange reopened on Wednesday 23 March after being closed for almost 8 weeks. The market fell by a further 8.9% on reopening.
Egyptian Market's Reopening.
Wall Street Journal. March 24, 2011.
The Egyptian Exchange is a member of the Federation of Euro-Asian Stock Exchanges.
See also
* CASE 30
* List of African stock exchanges
*List of stock exchanges
This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges.
There are sixteen stock exchanges in the world ...
* List of stock market indices
References
External links
*
{{Egypt topics
Financial services companies established in 1883
Stock exchanges in the Middle East
Stock exchanges in Africa
Finance in Egypt
Organisations based in Cairo
Economy of Cairo
Economy of Alexandria
1883 establishments in Egypt