On Sunday, treasury bills - one of the government debt instruments - began trading in the secondary market on the Egyptian Stock Exchange, with the aim of stimulating trading on the government debt market, according to a statement from the stock exchange.
Previously, T-bills were traded through the Central Bank of Egypt (CBE) on behalf of the Ministry of Finance.
The value of trades in treasury bills on the first day of trading amounted to about EGP 33.8 billion pounds (about $1.1 billion), with 109 transactions, according to the stock exchange’s statement on Sunday.
The head of the Egyptian Stock Exchange Ahmed Al-Sheikh said that trading treasury bills through the stock exchange works to increase demand, facilitate trading operations, and also represents an additional attraction for investors.
He pointed out that connections were made with Egyptian banks, both major and non-major dealers to support their ability to trade in the secondary market for government debt instruments.
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