Central Bank of Egypt, EBRD look to set up new entity to settle gov’t bonds

The Central Bank of Egypt and the European Bank for Reconstruction and Development (EBRD) are looking into setting up a new specialized body to settle government bonds and set up a comprehensive electronic system for their trading, sources close to the matter tell Al Mal. The new entity will take over tasks that are currently under Misr for Central Clearing’s mandate, including settling taxes due on bond sales, the sources said.