The chairman of Egypt's stock exchange has said he will step down from his position at the start of July following the election of the country's next president.

 

Mohamed Omran made his announcement on Thursday morning at the opening ceremony for the Bourse's new headquarters in Smart Village, a business park to the west of Cairo.

 

Speaking to reporters, Omran said the remainder of his term will involve overseeing reforms to the stock exchange and that he is eager to return to his academic work at Cairo University.

 

Omran, a former vice president of the Bourse, was appointed head by the Egyptian cabinet in September 2011.