Egypt names economist Mohamed Farid as new stock market chief

Egyptian Prime Minister Sherif Ismail appointed on Sunday Mohamed Farid Saleh as the new chairman for Egypt’s stock exchange (EGX).

Saleh will succeed outgoing chief Mohamed Omran whose term ends August 6.

The new head will start work Monday morning, with four-year tenor that will end in 2021.

Saleh, an economist since 2004, was named deputy head of the Egyptian bourse between July 2010 and March 2011, has previously worked as an adviser in the Ministry of Investment. He was responsible for the money market file and following up the bourse development schemes, mainly the launch of the SME bourse; NILEX.