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Wednesday November 28th, 2018

GAFI Issues Several Circulars with Governance Rules for Companies

The General Authority for Investment and Free Zones (“GAFI”) recently published on its website a number of circulars with governance rules for companies following the amendments of the Companies Law and its executive regulations earlier this year. The circulars – with dates ranging between October and November 2018 – include a reiteration, and sometimes clarification, […]

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Thursday November 1st, 2018

The New Public Contracts Law

On 3 October 2018, the new Public Contracts Law No. 182 of 2018 (the “Law”) was published in the Official Gazette.  The Law was discussed and passed by the House of Representatives last July, and comes into effect 30 days following its publication. As the new framework for regulating contracts concluded by public entities, it […]

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Tuesday September 25th, 2018

A New Consumer Protection Law

Sound consumer protection regulation is a staple of developed legal systems. It is therefore typical of states to aspire to reach a balance between promoting a healthy competitive business environment while ensuring the protection of consumers who deal with businesses against unfair, deceptive, fraudulent or harmful practices. In this light, the new Consumer Protection Law […]

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Monday September 17th, 2018

Egypt’s First Sovereign Fund Law

On 18 August 2018 the law establishing Egypt’s first sovereign wealth fund named “Misr Fund” was issued. With the purpose of contributing to sustainable economic development through management of state funds and assets, the fund was created as an independent legal entity, with an authorized capital of EGP 200 bn. Misr Fund has the right […]

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Monday September 17th, 2018

A New Law for Financial Leasing & Factoring

As part of the recent overhaul of the legal framework governing non-bank financial activities, a new law was issued regulating financial leasing and factoring. The two activities are not new to Egyptian law. Rather, the new law replaces a 1995 law on financial leasing, while factoring, although not governed by an independent law, was regulated […]

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Tuesday September 11th, 2018

Amendment of Custom Tariffs

New custom duties were issued by Presidential Decree No. 419 0f 2018 which increased import tariffs for over 300 goods in a variety of categories. Government officials announced that the decree is aimed at encouraging national industry and updates the classification of goods to comply with the Harmonized Commodity Description and Coding System (HS) after […]

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Wednesday March 7th, 2018

Ministry of Investment Issues Amendments to the Executive Regulations of the Companies Law

On 11 February 2018, the Egyptian Gazette published Ministry of Investment decision No. 16 of 2018 amending the Executive Regulations of Companies Law No. 159 of 1981. The amendment of the executive regulations mirrors the recent amendment of a significant number of provisions of the Companies Law that were published on 16 January 2018, representing […]

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Wednesday March 7th, 2018

A New Bankruptcy Law

On 19 February 2018, the Law No. 11 of 2018 for Restructuring, Bankruptcy and Bankruptcy-avoiding Settlement was issued (generally referred to as the “Bankruptcy Law”). The Law is considered one of the most important pieces of economic legislation to come out lately. It adds novel concepts and introduces a new approach to dealing with persons […]

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