Inching closer towards commodities exchange, sukuks and short-selling

Inching closer towards commodities exchange, sukuks and short-selling: The Cabinet recently approved the introduction of new capital markets and financial instruments, which include a commodities exchange, Investment Minister Sahar Nasr said during a meeting with newly-appointed EGX Chairman Mohamed Farid, according to a statement. Nasr is planning to meet with members of the Egyptian Capital Markets Association on next Monday to discuss the launch of new instruments, such as sukuk, allowing short-selling on the EGX, and a secondary bond market, Al Mal says. The House is expected to receive amendments to the Capital Markets Act in October.