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Monday, 4 May 2020

Egyptian Commodity Exchange legislation to be submitted to cabinet in coming days

LEGISLATION WATCH- The draft law that will establish the Egyptian Commodity Exchange will be with the cabinet within days for review after the Supply Ministry finished drafting the bill, according to a statement. Ministers green-lit initial proposals for the exchange at the start of the year, paving the way for the establishment in March of the company tasked with managing the exchange. The exchange will reportedly allow traders to buy and sell spot contracts for six commodities — wheat, rice, corn, potatoes, onions, and oranges — and is expected to officially launch in September.

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