EGX Prepares Remote Contracting System for Foreign Investors

The Egyptian Exchange (EGX) is preparing to launch an e-Passport system that will allow foreign investors from around 150 countries to complete electronic contracting procedures remotely.

The system has entered the Financial Regulatory Authority’s regulatory sandbox and is approaching its final stages ahead of launch, according to Omar Radwan, Executive Chairman of the Board of Directors at EGX. The initiative is being developed by the Egyptian Exchange in coordination with the Financial Regulatory Authority, which is overseeing the sandbox phase.

The e-Passport is intended to remove the need for eligible foreign investors to complete contracting procedures in person, with the wider aim of making access to Egypt’s capital market easier from abroad.