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The Mina El-Basal Cotton Exchange is one of the oldest cotton exchanges in the world, located in the Mina El-Basal district of Alexandria. The first cotton trading transactions took place there in 1879, when it was close to Europe. This was followed by the official establishment of the Alexandria Cotton Exchange in 1883, and then the Cairo Cotton Exchange in 1903. The exchange closed in 1952. With the outbreak of the American Civil War, Egyptian cotton exports increased, and its value rose in global markets, leading to a surge in foreign trade. This gave rise to the Mina El-Basal spot market, established in 1872, which became known as the "Mina El-Basal Cotton Exchange." It was under the auspices of the Khedival Estate and possessed all the necessary elements to function as a spot market for goods. It was designed for trading cotton, wheat, and other important crops. The leading Egyptian exporters and representatives of commercial banks in Alexandria, headed by the manager of the Anglo-Egyptian Bank in Alexandria, established the "Mina El-Basal Egyptian Trading Exchange Company" to control and supervise the spot market. Its objectives also included organizing the export of major Egyptian agricultural products of that period, such as cotton and its seeds, as well as onions. Simultaneously, the "Mina El-Basal Company" was founded, constructing its now-famous building, which was leased to members of the General Crops Company and others. Within this building, located in the Mina El-Basal district, came to house export trading offices, bank branches, and other businesses. Commercial activity flourished in the area, and the major export houses naturally dominated the exchange, reaping enormous profits. The Mina El-Basal exchange resembled a fruit and vegetable market, where goods were displayed and purchased immediately after inspection and payment. It differed from the stock exchange in Mansheya, which specialized in contracts. Cotton, for example, was not ready for immediate delivery but rather traded on credit, with delivery due at a later date. In 1931, the Mina El-Basal Stock Exchange came under the supervision of the Egyptian government, but foreigners continued to control its management from its inception until 1935 when Mohamed Farghali Pasha was elected as its first Egyptian chairman, and also its youngest at the age of 34. The exchange continued operating until the July 1952 Revolution. #AlexandriaToday #AlRehab #AlMaadiya #AlMaxAlexandria #FridayMarket #MinaElBasal #AlexandriaStreets #AlexandriaGovernorate #AlexandriaToday #AlRehab #MinaElBasal #FridayMarket