Arab Finance: The Egyptian Exchange (EGX) is seeking to launch an Islamic Shariah-compliant index within the first half (H1) of 2024, EGX’s Chairman Ahmed El Sheikh told Asharq Business.
The index will include Shariah-compliant firms, which will be decided upon by the Sharia Supervisory Committee at the Financial Regulatory Authority (FRA).
The move aims to lure further investors into the local stock market, El Sheikh noted.