Author: Malak Yasser In a significant development for international commercial arbitration in Egypt, the Cairo Regional Centre for International Commercial Arbitration (herein referred to as the “CRCICA” or the “Center”) has recently adopted its revised Arbitration Rules, which entered into force as of the 15th of January of 2024 (the...
Incorporation and Licenses Requirements for Non-Banking FinTech Startups
Author: Salah Mohamed Background. The Financial Regulatory Authority (“FRA”) Decree No. 268 of the Year 2023, sets out the incorporation requirements, needed license, and the minimum required capital (authorized and paid-up) for the non-banking financial services companies. In addition, the FRA Decree No. 58 of the Year 2022, also gives...
A Comprehensive Introduction to Term Sheets
Author: Fayza Mohamed For a wide range of investors such as Angel investors, Seed Investors and Venture Capitalists, term sheets are the foundational blueprints that set the stage for collaborative ventures. This article will focus on the Venture Capitalist’s term sheet and aims to touch on and briefly explain the...
Explanatory Note for a Bill Regarding the Incentives of the Green Hydrogen Projects
Author: Salah Mohamed We, at Shehata & Partners Law Firm, have gained access to the prospective explanatory note for the bill concerning the incentives for green hydrogen projects in Egypt. Please find below an English translation of such an explanatory note: The Ministry of Electricity and Renewable Energy has developed...
The Recent Amendment to Article (2) of Importer Registry Law
Author: Eman Othman On the 29th of October 2023, an amendment has been introduced with respect to the requirements for the registration of companies with the importers’ registry. In light of the above, the Egyptian official gazette has published Law No. 173 of 2023 (“the New Importer Registry Law”) which...
Prepaid Cards in Egypt
Author: Randa Shouma The Central Bank of Egypt (“CBE”) defined prepaid cards, in its Circular dated 8 May 2019 organising the Rules for Payment Services Using Prepaid Cards (the “Prepaid Cards Rules”), as electronic payment cards, where customers load funds in advance and can subsequently use them for transactions, including...
Guide to Consumer Finance Regulatory Framework in Egypt
Author: Randa Shouma Consumer finance is a type of finance that allows consumers to purchase goods or services without having to pay the full amount upfront. Instead, the consumer agrees to pay for the purchase in instalments over a period of not less than 6 months. Such payments are typically...
Comprehensive Analysis of the Recent Amendments to the Egyptian Investment Law: Impacts and Effects on the Egyptian Economy
Author: Tasneem El-Nagar Introduction In the pursuit of fostering economic growth and development, Egypt has undertaken proactive efforts to attract both foreign and domestic investments. A pivotal stride in this direction materialized through the amendment of the Investment Law No. 72 for 2017 (the, "Investment Law") by virtue of Decree...
Private Free Zones | Assessment of the Newly Introduced Amendments
Author: Tasneem El-Nagar On the 4th of June 2023, several amendments have been introduced with respect to the requirements for establishing Private Free Zones under the Investment Law No. 72 for the year 2017 (Article (76) of the Executive Regulations). The Amendments: These amendments can be summarized as follows: First:...
Client Alert – IDA Temporary Operation License Launched (June 2023)
Author: Ibrahim Shehata On 28th of May, 2023, the Ministry of Trade and Industry published decree No. 149 of 2023 regulating the issuance of a temporary operating license for industrial facilities (“Decision”). The Decision sets out the rules and the procedures to be implemented in the application of Law No....