The Supreme Committee for Advising on International Arbitration Cases
On 24 April 2019, the Prime Minister issued Decree No. 1062 of 2019 (the “New Decree”) which was published in Egypt’s Official Gazette. The New Decree replaces Prime Minister Decree No. 1255 of 2014 which established the Supreme Committee for Advising on International Arbitration Cases (the “Committee”) and Decree No. 1966 of 2014. The main […]
read moreGAFI’s New Valuations Regulations
The General Authority for Investment and Free Zones (“GAFI”) has recently published Decision No. 953 of 2019 (the “Decision”), which is coupled with a manual pertaining to the regulations and procedures of official valuations (the “Manual”). The said Decision was published on GAFI’s website and entered into force and effect on July 1st, 2019. The […]
read moreBanking and Central Bank Draft Law
The much-anticipated Banking and Central Bank draft law (the “Draft Law”) has been approved by the Cabinet of Ministers and is a few steps away from being ratified by Parliament. The Draft Law, when passed, will be amending and adding several aspects to the Banking sector with the aim of increasing the supervision by the […]
read moreChanges to the Regulation of Unlisted Companies
The General Authority for Investment and Free Zones (“GAFI”) introduced new key regulatory changes to the Egyptian Companies Law No. 159 for 1981 and its Executive Regulations (the “Companies Law”), ranging from setting out new rules for sending out general assembly invitations, to introducing rights issue rules for unlisted companies in association with the Egyptian […]
read moreThe CBE launches it’s first FinTech Regulatory Sandbox
In May 2019, the Central Bank of Egypt (the “CBE”) published the framework of its fintech regulatory sandbox (the “Framework”) for its innovative financial technology lab (the “IFTL”). This month, the CBE announced its regulatory sandbox soft launch and invites financial technology (“FinTech”) startups and companies specializing in electronic know-your-customer solutions to apply for its […]
read moreECA’s Investigation of the On-Demand Delivery Market in Egypt
On 30 April 2019, Egyptians were surprised by the sudden exit of on-demand delivery service “Glovo”. The reasons behind such exit were unknown until the Egyptian Competition Authority (the “ECA”) published a press release on 28 May 2019, in which it clarified the matter. It stated that following the exit of Glovo, ECA suspected an […]
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