EFSA working on financial valuation standards

The Egyptian Financial Supervisory Authority’s (EFSA) board of directors is discussing the financial valuation standards this week and will meet on Wednesday to ratify them. EFSA chairman Sherif Samy said that all independent financial advisors will be held to the standards and implementation will be mandatory to all advisors in their valuation of any projects or entities, according to Al Borsa. The standards aim to promote transparency and attract investment by protecting investors during the valuation of securities for the purposes of offering, acquisitions, mergers, and capital increases.