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Cairo – A aa:
Published on:
Sunday, July 29, 2018 – 1:50 pm
| Last update:
Sunday, July 29, 2018 – 1:50 pm
Councilor Khalid Al-Nashar, Vice President of the Financial Supervisory Authority, confirmed the intention of the Authority to complete the regulatory framework of financial advisory activity on securities, in accordance with the decision of the Minister of Investment in 2007, Vice Chairman of the Financial Supervisory Authority said Sunday in a statement that the market could attract about 1164 foreign institutions and funds in the Egyptian market, adding £ 7.4 billion to the net purchases of foreigners. Last, host That the capital value of shares listed on the Egyptian Stock Exchange increased by 37% in 2017 to reach 825 billion pounds against 602 billion pounds in 2016, while the value of the main index of the stock exchange has exceeded 124% the last two years We accept without professional competence, impartiality and neutrality in the evaluator, and are totally independent of the applicant for evaluation and related parties, or the institution or project evaluated, including including the absence of a relationship of common or conflicting interests.
The word "Al Nashar" was the opening of a workshop held at the headquarters of Al-Ahli The duties and functions of independent financial advisors, in accordance with the provisions of the Law on the Market of capital and regulator decisions, are widely shared by employees of companies and entities conducting financial valuation and preparing for fair value studies.
Financial valuation and the preparation of fair value studies play an important role in the amendments to the Capital Market Law No. 17 of 2018 to improve investor protection and the protection of investors. confidence of financial institutions and other market players.
He noted that section 28 of the Act provided for the establishment of a register of companies licensed to conduct financial appraisal work and prepare studies of fair value. Which was issued by the Board of Directors of the Authority by Decree No. 1 of 2017, and hired all independent financial advisors and their badistants and applies in all cases where the law on the capital market or its implementing regulations
Board of Directors of the Authority issued the rules of registration, the continuation of the registration and removal of the register for the introduction of these amendments in force and the completion of the development system of the objectivity of disclosures and taking into account the size of the company. The responsibility of the operators of the activity required the issuance of an insurance policy against occupational risks in accordance with the conditions set by the Commission according to the size and scope of responsibilities arising evaluation work done by the company or the entity.
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