Only for young people. New conditions for trading on the stock market (maximum age limit)

Dr. Mohamed Omran, President of the Financial Supervisory Authority, issued Executive Decision No. 23 of 2021 after the Authority’s Board of Directors approved the establishment of the maximum limit for trading on the stock exchange for youth groups of 16 under the age of 21 at 10,000 Egyptian pounds, provided that direct trading on the stock exchange is limited to buying and selling, not allowing the use of margin buying or securities lending for sale purposes.

“Omran” said that the determination of the ceiling came in light of statistics submitted by the competent departments of the authority showing that the number of coded traders who own shares in companies listed on the Egyptian Stock Exchange reaches Some 383,000 merchants, of which 337,000 are 88% who have portfolios worth 3.4 billion pounds, with an average portfolio value of 10,000 EGP.

The authority head added that statistics show that 56% or almost 215,000 merchants own portfolios of less than 5,000 Egyptian pounds with a total value of 263 Egyptian pounds and an average portfolio value of 1,220 Egyptian pounds, while two thirds of the dealers or 253 thousand dealers have portfolios of less than 10,000, with a total value of 540 million, at an average of 2,140 Egyptian pounds per portfolio. On the other hand, statistics show that there are 2,280 legal persons who own around 571 billion pounds, an average of a quarter of a trillion or 250 million Egyptian pounds for the wallet.