EGX plans to involve banks in margin trading welcomed by brokerages

Brokerages cheer EGX drive to interest banks in financing margin trading: Brokerages and industry associations are welcoming recent steps by the EGX to increase the involvement of banks in margin trading, according to Al Mal. EGX head Mohamed Farid had met last week with the Federation of Egyptian Banks to discuss mechanisms that would encourage the banking sector to finance margin trading and help reduce risk. Banks had been reluctant in the past few years to finance margin trading on fears of turbulence in the stock market, said the head of the securities division of the Federation of Egyptian Chambers of Commerce, Awni Abdel Aziz.