Mohamed Hussein, managing director of Global Securities, said: “Global’s initiative is a modest gesture toward supporting the Egyptian stock market. We hope this will contribute to the recovery of the Egyptian economy and the stock market from this difficult phase.”

He added: “Although the Egypt Stock Exchange had ended its dealings last week with a decrease of 3.73 percent where the index closed at 4,950.82 points in the second session following the suspension of trading for 38 sessions, the decline in stock market was less than what has been expected.”

Hussein expressed his optimism that the stock market will recover as a result of the efforts put by most of the responsible authorities in Egypt, including the stock market authorities who are working toward stabilizing the index by reducing the trading sessions as a first stage to three hours a day in addition to the government, listed companies and the private sector, such as Global, in an effort to encourage investors to trade responsibly.

He expected the stock market performance to improve over the medium- to long-term “as the market fundamentals are positive and we have seen a number of listed companies announcing good profits.”

Investing in stock markets through buying shares is considered an important tool to develop the investment mentality among community members, which will help achieve better returns over the medium- and long-term. However, the general attitude in this part of the world is toward saving which leads to the decline in investment levels, which is considered a major structural flaw in investment culture.

The stock market is considered the ideal tool for Egyptian companies to obtain the necessary funding for their expansion projects that will create new jobs and contribute to the economic development.

“This campaign is not limited to Global’s branches in Alexandria and Cairo, but extends to all our branches in Saudi Arabia, Bahrain, Kuwait, the UAE, Oman and Jordan,” Hussein added.

Global Investment House Securities is a subsidiary of Global Investment House in Egypt and has a capital of 20 million Egyptian pounds.