CBE / FinMin committee sets mechanism for selling gov’t bonds on the EGX

EXCLUSIVE- CBE / FinMin committee sets mechanism for selling gov’t bonds on the EGX: A joint central bank-finance ministry committee has decided on a new framework for selling government bonds on the EGX, a government source told Enterprise. This mechanism will allow the select banks and financial institutions who take part in government bond auctions to resell the bonds to companies and private investors on the EGX, the source said. A limit will be set for how many bonds investors can buy, the source noted. The move comes as part of a plan to sell government bonds on the EGX revealed to us exclusively by Finance Minister Maait last month. The committee is currently drafting the policy, said the source, adding that bonds will likely go on sale in the EGX next year.