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00:00 "This conference is perhaps the biggest one in the past few years.
00:07 We thank Qatar's bursa for its generous hospitality.
00:10 We thank the Prime Minister's family for their generous care for the conference.
00:14 We will cover more than just the conference.
00:17 We will cover sustainability, investment relations, digitalization,
00:21 and the rise of precious metals.
00:31 We will also sign a memorandum of understanding with the African Union for the stock market,
00:37 the Stock Exchange and the Stock Exchange for commodities.
00:40 We have a comprehensive program to develop the financial system in the region.
00:46 We will also sign four Arabian exchanges on the zero-sum agreement.
00:52 This will be the first time that this agreement will be signed outside the regular climate conferences.
00:57 God willing, our conference will witness this."
01:00 "We will stop at the last point, which is the signing of zero-sum agreements.
01:04 This is in the context of sustainability.
01:06 Anyone who sees that some Arabian capital markets are still in the early stages,
01:14 or have priorities in the issue of the recession?"
01:18 "The recession is a big issue.
01:22 No one can say that he knows more than the others.
01:27 This is a matter of priorities for a number of initiatives.
01:30 Our role as an association is to put this matter at the top of the Arabian exchanges priorities.
01:35 With the start of this year, the board of directors issued this initiative.
01:40 We have already put together four Arabian exchanges.
01:44 It is important to say that, like anything else in the financial market,
01:49 there is a learning curve.
01:51 Our exchanges must learn, understand, read, and we help.
01:55 The most important thing in signing an agreement is that the exchange is leading by example.
02:03 We have more than 1,100 or 1,200 companies in our Arabian markets.
02:09 If every market enters and leads by example,
02:12 you will find many companies in many sectors that follow, respond, and understand.
02:16 This is the importance of signing an agreement.
02:19 Signing an agreement is not the most important thing,
02:22 but what is important is that after signing the agreement,
02:25 every market leads by example to the companies involved."
02:28 "Rami, how far do you think we are from the Arabian General Indicator?"
02:32 "I swear it is there.
02:34 As an association, we have two indicators.
02:36 As an association, we have the first low carbon index.
02:42 We have issued it in the year 2020 or 2021.
02:45 We have 40 Arabian companies from 8 or 9 markets.
02:48 We study the source of the indicators."
02:53 "I am talking about price and weight indicators."
02:56 "It is not a price and weight indicator.
02:58 It is a 40-company index.
03:00 If you look at its performance, it is better than many other indicators.
03:04 There are Arabian indicators, and we are doing this.
03:07 If you remember, when I was the president of the Egyptian stock market,
03:12 I always said that I don't want to issue an indicator because I have an indicator.
03:15 I have to issue an indicator to issue a product.
03:18 As long as I don't find the right product for the indicator,
03:22 I will always have a problem in implementing this indicator."
03:26 "Today, do you think this conference is under pressure?
03:29 High interest rates, complicated geopolitical situations,
03:33 and the lack of security and stability challenges.
03:36 How are you dealing with these challenges?"
03:40 "I was writing my words for this conference this morning.
03:44 I was hoping that this would be the last year where there would be challenges.
03:48 Every year, there are challenges, but in 2023, there were many challenges.
03:52 There are many challenges in many areas.
03:55 What we are trying to do is, as you can see,
03:59 to have a regional conference that brings together the leaders of the stock market,
04:05 the telecommunications centers, the tech companies, and the medium-sized companies.
04:11 We are trying to solve all the problems.
04:14 There are many problems.
04:17 The liquidity is still the biggest challenge for everyone.
04:21 We are working on a part of our discussion today
04:24 on how we can improve liquidity, increase production,
04:29 and strengthen the role of individual investors in the Arab region.
04:34 We are also exchanging experiences.
04:37 For example, in the Egyptian market,
04:40 there are many strong individuals.
04:43 We are sharing experiences and working together.
04:46 We are working together to see what happens.
04:49 As a market, you are an enabler.
04:51 What the f--
04:52 [NON-ENGLISH SPEECH]