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Laws and Regulations
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The Egyptian capital market is governed by various laws and regulations that aim to promote transparency, accountability, and investor protection. Here are some key laws and regulations:
Capital Market Law (No. 95/1992)
- This law provides the legal framework for the Cairo and Alexandria Stock Exchanges.
- It sets rules for listed businesses.
Central Depository and Registry Law (No. 93/2000)
- Regulates central registration for shareholders’ records, clearance, settlement, and depositing.
Law on Joint Stock Companies, Limited by Shares Companies, and Limited Liability Companies (No. 159/1981)
- Regulates joint stock companies, limited-by-shares companies, and limited liability companies.
Investment Guarantees and Incentives Law (No. 8/1997)
- Boosts investments in various economic sectors and specific industrial zones through income tax exemptions.
Supervisory Agencies
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The Egyptian capital market is supervised by several agencies that aim to enforce laws and regulations, monitor market development, and protect investors. Here are some key supervisory agencies:
Capital Market Authority (CMA)
- An independent government agency responsible for enforcing the Capital Market Law.
- It supervises market development, regulates, and monitors all its activities.
Cairo and Alexandria Stock Exchanges
- A quasi-self-regulatory authority managed by an elected board of directors under the supervision of CMA.
Key Points
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- The Egyptian capital market is subject to various laws and regulations aimed at promoting transparency, accountability, and investor protection.
- The Capital Market Authority plays a crucial role in enforcing laws and regulations, supervising market development, and monitoring all its activities.
- The Cairo and Alexandria Stock Exchanges serve as a quasi-self-regulatory authority under the supervision of CMA.