Egypt introduces new rules for index, real estate funds

March 16, 2014 3:21 am

The Egyptian Financial Supervisory Authority (EFSA) has issued new rules to facilitate the creation of index and real estate funds, as well as amendments to margin trading rules, as part of efforts to attract capital back to the stock market, Reuters has reported. The changes would increase liquidity in the market and draw more local and foreign investors, said the chief of the EFSA, Sherif Samy. “We plan to launch Egypt’s first index fund in April,” Samy said, adding that such funds would support the development of market makers – dealers who stand ready to buy and sell stocks in order to ensure liquidity – within Egypt’s market.