Arab Finance: The General Assembly of the Misr Clearing Company decided in its ordinary assembly to approve the formation of the company’s Board of Directors for a new three-year term 2024-2027, after the legal quorum of the Board was completed in accordance with the decision of the Board of Directors of the Financial Regulatory Authority No. 136 of 2024 regarding Professor Dr. Khaled Sari Siam assuming the position of Chairman of the Board of Directors. The company and engineer Hisham Mabrouk are managing director.
The council includes Ahmed Abdel Rahman Al-Sheikh, representing the Egyptian Stock Exchange, and the membership of Mohamed Farouk Masoud and Mustafa Ibrahim Hussein, representing securities brokerage companies, and Mohamed Ali Mahmoud Leha and Amr Mustafa Ali Mostafa, representing entities practicing custodian activity, and Ibrahim Sarhan, representing companies whose shares are registered with the central depository, in addition to To Ola Musa Al-Mandouh, Sally Refaat Al-Sayed, and Ashraf Muhammad Bahi El-Din as experienced independent members.
Misr Clearing had invited its general assembly to convene on Monday, November 18, 2024, at the headquarters of the Helnan Landmark Hotel in the Fifth Settlement, where its effectiveness began with the announcement of the validity of the meeting and the completion of the quorum for the association with an attendance rate exceeding 30%.
The Misr Clearing Company for Central Deposit and Registration is the company responsible for the settlement and clearing operations of securities as it represents the depository and central custodial bank for them, in addition to implementing the prescribed operations on those securities on behalf of the issuing entities. It is also the company entrusted with establishing the central registration system in accordance with the provisions of the Central Deposit and Registry Law No. 93 of 2000.
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