Back to the complete issue
Wednesday, 10 July 2019

Egypt’s parliament gives early nod to Economic Court Act amendments

LEGISLATION WATCH- House gives preliminary nod to Economic Court Act amendments: The House of Representatives’ general assembly gave its preliminary approval yesterday to proposed amendments to the Economic Courts Act, which aim to expand the scope of the nation’s economic courts to cover new business and finance activity, according to Youm7. If passed in a final vote, the changes would expedite court proceedings, allowing cases to be filed electronically and certain procedures to be completed online. The changes would also expand the courts’ jurisdiction to cover more cases — including those arising from new non-banking financial services (namely transferable guarantees, microfinance, and sukuk), and from money laundry and bankruptcy. Al Shorouk has a leaked draft of the changes.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.