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English news

23-Feb-2017

Capital Market suggests temporarily cutting or removing Investors Protection fees

The securities division reportedly suggested during its meeting on Tuesday that fees collected by the Investors Protection Fund could be either temporarily cut or removed. The suggestion aims to lower the transaction cost and maintain liquidity after the stamp tax is imposed. The fund collects cEGP2,000 and a large portion of the amount is left unutilised. Other suggestions include a rate for the stamp tax of 0.001%, and to impose it on over-the-counter transactions. A note will be submitted to the Ministry of Finance outlining the suggestions raised during the meeting. (Al Mal) 

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