FRA to Implement New Fintech Law
In recent years, Egypt has been keen to stimulate investment in the fintech space and secure related transactions. The government took serious steps to set in place a legal framework governing the said sector. The Fintech Law No. 5 for 2022 (the “Law”) has been enacted and published in the Official Gazette on 8 February […]
read moreNew Reporting Requirements on Direct Investment Companies
The importance of the regulatory framework for investments in Egypt has been evident since the enactment of the new Investment Law in 2017. Amongst other areas, the regulatory framework for direct investments has been on the Egyptian government’s radar as part of its long-term goal of boosting the economy via encouraging a business-friendly and more […]
read moreNew Amendments to Real Estate Registration Law: Accelerated and Streamlined Registration Procedures
The law No. 114 for 1946 issuing the Real Estate Registration Law (“RERL”) has been the foundation of real estate registration in Egypt. However, since its inception in the 1940s its application has been facing multiple practical problems, including the slow registration process and onerous title verification procedures. These problems are deeply felt especially during […]
read moreLong-Awaited Decree Regulating Advertisement of Medical and Health Products and Services
Law No. 206 for 2017 regulating the advertisement of health products and services required the creation of a committee for the licensing and review of advertisements of medical and health products and services (the “Committee”). The Committee was to be created by virtue of a decree of the Prime Minister. The Prime Minister issued decree […]
read moreThe Egyptian Court of Cassation: The Dismissal of an Employee for Conviction as per Article 129 of the Labor Law is an Exceptional Right to the Employer
The Egyptian Labor Law No. 12 for 2003 (the “Labor Law”) granted the employer various rights to protect the reputation of its organization and business. One of these rights is the dismissal of an employee who is sanctioned with penalties that are stipulated for a felony or with freedom-limiting penalty in relation to a crime […]
read moreCredit Rating Activities: Progressive Development of the Egyptian Financial Market
Credit rating activities are a relatively new addition to the Egyptian market. Before 2018, the law did not allow Egyptian established companies to venture into credit rating. Viewed as an integral part of the Egyptian financial markets, the independence and efficiency of credit rating activities were limited to international partners because of the lack of […]
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