Egypt removed from FTSE Russell Watch List

FTSE Russell has officially removed Egypt and its financial market from its Watch List after the market met the necessary international standards and requirements. This development indicates the Egyptian market's ability to satisfy international criteria and exceed minimum thresholds, supported by a growing base of listed companies capable of competing regionally and internationally.

Omar Radwan, Chairman of the Egyptian Exchange, described the removal as a “new certificate of confidence” that confirms the market's resilience and ability to handle global challenges and pressures. He noted that the market's strength is demonstrated by its capacity to maintain efficiency, attractiveness, and recovery during periods of volatility.

Significant progress was noted as three major Egyptian companies successfully met the requirements for the mid-cap category: Talaat Moustafa Group, Telecom Egypt, and Commercial International Bank (CIB). This expansion enhances the presence of Egyptian companies within emerging market indices and broadens the potential investor base.