Beneficiaries’ Scope Expansion under the Security over Movables Law
In 2015, one of the most important economic legislations of the past few years was introduced to the Egyptian legal system. The long-awaited Law No. 115 for the year 2015 regulating security over movables (the “Security over Movables Law”) allowed the creation of non-possessory security over movables for the first time in Egypt. This significantly […]
read moreNew Regulations Amending the Reconciliation of Violations to the Construction Law
As part of the Egyptian government’s ongoing effort to combat bureaucracy and to incentivize national and foreign investors, the executive regulations of Law no. 17 of 2019 on the Reconciliation of Construction Violations (the “Law”) were amended by virtue of the Prime Ministerial Decree No. 800 of 2020 (the “Decree”). The Decree provided some considerable […]
read moreThe Egyptian Competition Authority approves Uber’s acquisition of Careem
On 24 March 2019, Uber announced the USD 3.1 billion acquisition of Careem, one of the largest technology transactions in the MENA region. Shortly thereafter on 26 March 2019, the Egyptian Competition Authority (the “ECA”) issued a press release expressing its concerns about the transaction, echoing an earlier statement October 2018, when rumors of the […]
read moreNew Bill to Reactivate Tax Dispute Resolution Committee and Limitations on Tax Delay Penalties
In an overwhelming response to the business community’s push to develop a business-friendly tax system and cutting red tape, the Cabinet approved a new bill (the “Bill”) aiming to reactivate the Tax Dispute Resolution Committee (“TDRC”) and grant some incentives to taxpayers by setting forth certain limitations to the tax delay penalties. It is anticipated […]
read moreNew Consumer Protection Law Executive Regulations
As you may recall, On 13 September 2018, the new Consumer Protection Law no. 181 of 2018 (the “CPL”) was issued and published in the Official Gazette, which repealed and replaced the previous consumer protection law, which was first introduced in 2006 and is the law that initially established the Consumer Protection Agency (“CPA”), the […]
read moreThe Central Bank of Egypt’s New Tourism Support Initiatives
The Central Bank of Egypt (The “CBE”) recently issued three circulars (The “New Circulars”) extending initiatives that aim to support Egypt’s tourism sector. The New Circulars extend three previous initiatives and launch a new one. The initiatives come in line with the government’s vision to boost the tourism sector as one of Egypt’s major pillars […]
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