Egyptian Exchange Deputy Chairman Mohsen Adel will temporarily run the bourse until Prime Minister Sherif Ismail appoints a new chairman, the investment and international cooperation minister said.

In a statement on Wednesday, Sahar Nasr said the term of duty of Bourse Chairman Mohamed Omran will end on August 6.

Nasr lauded the efforts exerted by the bourse's board under Omran from 2013 to 2017.

Nasr said the ministry is keen on developing the bourse and upgrading its mechanism within the framework of the economic reform program.

She urged the newly elected board of the bourse to proceed with the march of developing the bourse.

Meanwhile, Adel said the board will forge an up-to-date mechanism for developing capital market.

He added that efforts are underway to activate the bourse's financing role and secure financing resources for new companies.

Source : Mena