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The Federation of Arab Stock Exchanges honors Mohamed Farid for presiding over the federation during the last session

The Federation of Arab Exchanges honored Dr. Mohamed Farid Saleh, Chairman of the Board of Directors of the Egyptian Stock Exchange, Chairman of the Board of Directors of the Arab Federation of Exchanges during the last session, in appreciation of his efforts during his presidency of the Federation, in a very difficult circumstance due to the repercussions of the Corona pandemic.


For his part, Dr. Mohamed Farid, Chairman of the Egyptian Stock Exchange, thanked the Federation for the honor, wishing the Federation, under the leadership of Saudi Arabia, continued success and success, for what is in the interest of Arab stock exchanges.


It is worth noting that Dr. Mohamed Farid assumed the presidency of the Union from April 2019 until April 2021, the union that was established in 1978 on the recommendation of the Conference of Central Bank Governors sponsored by the League of Arab States in 1978, with membership in only 4 Arab stock exchanges at that time, with the aim of facilitating Exchange of technical assistance among members, coordination of applicable laws and regulations, and overcoming difficulties facing inter-Arab investment.


For his part, Rami Al-Dukkani, Secretary General of the Arab Federation of Exchanges, thanked and appreciates Dr. Mohamed Farid for all the efforts made during his presidency of the federation and for addressing all the difficult and pressing consequences of the Corona pandemic, indicating that the period of Egypt's presidency of the federation succeeded in putting the federation on a stable path in the long term. By formulating policies that contribute to developing its business and activities in order to enhance and facilitate inter-Arab investments in securities, as well as developing a joint cooperation and coordination platform for exchanging experiences and seeking opinions between all relevant parties.


During the presidency of Egypt, the federation witnessed the election of the first board of directors of the Federation of Arab Stock Exchanges as an unprecedented "strategic" step that enhances the process of institutional transformation within the federation, and reflects the current administration's keenness on the continuity of the reform and development process within the federation in a stable manner. The union succeeded in cooperation with "Refinitiv", In launching an index for low-carbon companies in the MENA region.