Stock Exchange to freeze shares of officials banned from travel

The Egyptian Stock Exchange today froze all stocks belonging to former ministers, officials and businessmen who have been banned from travel and whose bank accounts have been frozen by Attorney General Abdel Meguid Mahmoud.

The Stock Exchange–originally scheduled to reopen this Sunday– will resume trading on Wednesday.

President of the Egyptian Stock Exchange said that trading stocks of the companies in which these officials hold shares will continue to avoid harming other investors.  

Some companies had announced they are freezing stocks owned by officials whose bank accounts were frozen by the attorney general, in order to prevent them buying or selling their shares.

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