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Egypt has jumped 18 places in the investor protection indicator in the World Bank’s Doing Business Report to settle for the 135th place in light of the new registration regulations the country has been applying, said Egypt’s financial regulator.
The new regulations ask companies to disclose more information to minority shareholders and giving them more weight in approving transactions with related companies, said Sherif Samy, Head of the Egyptian Financial Supervisory Authority (EFSA).
The report attributed the slight progress of Egypt to the economic reforms the country has been undertaking.
According to the rating report, Egypt carried out 24 reforms to be followed by the UAE (20) and Morocco and Saudi Arabia (19) each.
Source: MENA
