Grapevine

Egypt, Iraq stock exchanges sign protocol to boost investment

The Egyptian Exchange (EGX) and the Iraqi Stock Exchange (ISX) signed a cooperation protocol on Tuesday to enhance investment ties between the two countries.

The protocol will focus on increasing cooperation and sharing expertise in areas including legislative updates, investment awareness, mutual investment, and transitioning to a digital economy, according to officials.

“We are working to provide the essential information needed by investors in both countries to increase mutual investments in the two stock markets,” said Ahmed El-Sheikh, Chairperson of the EGX.

The protocol also aims to develop joint training programs for brokerage firms and listed companies to enhance knowledge-sharing, said El-Sheikh.

The agreement is part of the EGX’s development strategy, specifically Article 58, which focuses on promoting financial literacy, training, and international relations, El-Sheikh added.