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MCDR targeting the registry of 130 thousand companies in depository system
During the third Annual Summit of Capital Market, organized by EG- Finance, MCDR Chairman, Mr. Mohamed Abdel Salam declared that the new investment law obliges shareholder companies to register in the central depository system within a period of one year. Mr. Abdel Salam also stated during the summit that the mentioned period is tight with regard to state conciliation, which requires addressing the companies without any delay, and promptly preparing the internal environment of companies in order to facilitate the applied procedures. Mr. Abdel Salam added that the number of shareholder companies is currently between 120 and 140 thousand companies, whereas 1800 companies got registered in the central depository system. He clarified that the number of Egyptian shareholder companies targeted for registry is 130 thousand companies, and that MCDR is proceeding with registering the rest of companies