The role of the banking system in the support of the economic transformation policies in Egypt

The development of economic reform policies in Egypt from the mid-1970s has been accompanied by a gradual alleviation of restrictions on the performance of the banking system. This has contributed to a great extent to the success of the monetary (demand) side of the economic reform programme. In the coming phase, economic policies will focus on the supply side, through the encouragement of private sector investments and through privatization intended to foster the role of production in the national economy. The study details the role of the banking system in the implementation of the privatization process and in the elaboration of the capital market. With the promulgation of Capital Market Law No. 95/1992, and the acceleration of the privatization process, it is anticipated that banks will have a greater role in the stimulation of the capital market, amongst others through increased participation in the underwriting and coverage of subscription, as well as the promotion of securities, the expansion of the activity of investment trustees, direct participation in new companies, and the creation and support of companies operating in the field of securities. Bibliogr., ref.

Title: The role of the banking system in the support of the economic transformation policies in Egypt
Author: Anonymous
Year: 1992
Periodical: Economic Bulletin – National Bank of Egypt
Volume: 45
Issue: 4
Pages: 217-226
Language: English
Geographic term: Egypt
Abstract: The development of economic reform policies in Egypt from the mid-1970s has been accompanied by a gradual alleviation of restrictions on the performance of the banking system. This has contributed to a great extent to the success of the monetary (demand) side of the economic reform programme. In the coming phase, economic policies will focus on the supply side, through the encouragement of private sector investments and through privatization intended to foster the role of production in the national economy. The study details the role of the banking system in the implementation of the privatization process and in the elaboration of the capital market. With the promulgation of Capital Market Law No. 95/1992, and the acceleration of the privatization process, it is anticipated that banks will have a greater role in the stimulation of the capital market, amongst others through increased participation in the underwriting and coverage of subscription, as well as the promotion of securities, the expansion of the activity of investment trustees, direct participation in new companies, and the creation and support of companies operating in the field of securities. Bibliogr., ref.