Back to the complete issue
Monday, 22 February 2021

Kids: You can trade on the EGX, but don’t cause a ruckus

Individuals aged 16-21 can get in on EGX trading, but can only have a maximum of EGP 10k of stocks in their portfolio under new rules by the Financial Regulatory Authority (pdf). The regs also forbids under-21s from taking out margin calls or short-sell stocks. The new rules come as the worlds of banking and finance are also being opened up to the same age group. FRA boss Mohamed Omran had said that financial products specifically targeting young people could be offered to individuals below the age of 21 at now service charge in a bid to encourage financial inclusion. This followed instructions from the Central Bank of Egypt to allow those under the legal age to open bank accounts without their parents or guardians’ consent and be given access to a limited number of banking services.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.