CAIRO: Egypt’s prosecutor general has ordered the former head of the country’s stock market to be investigated on charges of violating the bourse’s rules and undermining the economy.
Magdy Shawky had headed the stock market since 2005 until he was abruptly sacked on Saturday.
Egypt’s state news agency on Monday said Shawky and the head of the financial regulatory body, Ziad Bahaa Eddin, were facing charges of breaking the law and harming the economy.
Egypt’s stock exchange has 213 companies trading a daily volume of 150 billion shares. Its benchmark index has tumbled some 43 percent since January 2008.
