Sub-custody guide: Egypt
The Stock Exchange introduced a number of important changes during 2014. A cash dividends tax and a capital gains tax were introduced, effective July 2. Stamp duty taxes, imposed in May 2013, were removed. ETF regulations were changed to allow only one market maker to operate, instead of two as previously.
Pre-opening sessions were abolished on August 7 2014. A
circuit breaker of between 10% and 20% applied to companies in the main
schedule was also removed on August 7, followed by the introduction of new
circuit breaker of between 5% and 10% on companies in the PL Schedule, says Amr
Sonbol, head of HSBC Securities Services for Egypt, Lebanon, and Palestine.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you
