|20 February, 2020

Egyptian Commodities Exchange Company to start operations in July 2020

Egypt’s PM issued a decree incorporating the company

Egypt's Supply Minister Ali Moselhy speaks to the media during a news conference about the launch of the Government’s local wheat harvest in Beni Suef, south of Cairo, Egypt April 24, 2017.

Egypt's Supply Minister Ali Moselhy speaks to the media during a news conference about the launch of the Government’s local wheat harvest in Beni Suef, south of Cairo, Egypt April 24, 2017.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: The Egyptian Commodities Exchange Company is set to commence operations in July 2020, with a capital of EGP 100 million, Egypt’s supply minister Ali El Moselhi stated on Wednesday.

The company will be incorporated under the decree of the Egyptian Cabinet and the applicable commercial laws, El Moselhi added.

The minister said that Egypt’s prime minister issued a decree incorporating the Egyptian Commodities Exchange Company in collaboration with a set of government bodies.

In January, head of the Egyptian Internal Trade Development Authority (ITDA) Ibrahim Ashmawy told Mubasher that the first trading transaction of strategic commodities on the new exchange is expected to take place by the end of 2020.

Source: Mubasher

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