The Egyptian Exchange's mission is to develop a world class market for the benefit of its Egyptian and international clients.
Egypt's Stock Exchange is comprised of two exchanges, Cairo (established in 1903) and Alexandria (established in 1883), which merged some time ago and both of which are governed by the same board of directors and share the same trading, clearing and settlement systems.
Both exchanges were very active in the 1940's, and the combined Egyptian Stock Exchange ranked fifth in the world. The central planning and socialist policies adopted in the mid 1950's led to the Stock Exchange's dormancy between 1961 and 1992.
In the 1990's, the Egyptian government's restructuring and economic reform program resulted in the revival of the Egyptian stock market, and a major change in the organisation of the Cairo and Alexandria Stock Exchanges took place in January 1997 with the election of a new board of directors and the establishment of a number of board committees, which brought about significant modernisation, culminating in 2008 by the Exchange winning the award of the most innovative African Exchange during the annual Summit organized by Africa Investor (Ai) in collaboration with NYSE Euronext.
In the case of individuals, mutual funds and international funds, no taxes are levied on dividends, capital gain and interest on bonds. There is no stamp duty on securities. Profits of Egyptian corporations from investing in securities are subject to capital gains tax.
