The Egyptian Central Bank (CBE) has announced the successful completion of the third phase of the Egyptian Money Market Development project, which aims to improve the efficiency and transparency of trading and settlement of government securities.
Working in coordination with the Ministry of Finance, the Egyptian Exchange, the Financial Regulatory Authority, and the banks operating in Egypt, the project involved the modernization of technological infrastructure and the introduction of new mechanisms for primary issuance and secondary market operations of treasury bills and bonds. To this end, the central depository and settlement activities of these instruments have been transferred to the Egyptian Central Securities Depository Company (ECSD), which was established for this purpose and began operations on September 24, 2023.
The CBE views this achievement as a catalyst for attracting new investors from both local and foreign financial markets. It also aims to foster a competitive environment that ensures fair and transparent pricing of these instruments. The project received support from the European Bank for Reconstruction and Development (EBRD). Going forward, the CBE has committed to monitoring international market developments to continue advancing and modernizing the government securities ecosystem, in line with the state’s macroeconomic goals.
