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Egypt will introduce the short-selling of shares on the stock market before the end of next November, deputy head of the Financial Regulatory Authority, Khaled el-Nashar, said on Thursday.
By allowing short selling — the sale of a borrowed security in the hope of buying it back at a lower price — the Egyptian stock exchange should generate more trading and thus attracting more liquidity.
Egyptian stock exchange chairman Mohamed Farid told Bloomberg earlier this month that all technological requirements had been fulfilled and 25 to 30 brokers are registered to operate shorting.
