Back to the complete issue
Monday, 5 April 2021

Egycomex law to finally head to parliament + tougher penalties for bullies

The law governing the forthcoming Egyptian commodities exchange will soon be with the House of Representatives for review and approval, Supply Minister Ali El Moselhy said at a conference yesterday, state news agency MENA reports. The minister did not provide any details on the contents of the legislation itself.

So when will the exchange launch? Egycomex is expected to launch on a pilot basis this month, giving the House a relatively small window in which to review the bill if the government is to stick to this timeline. The law had been expected to be submitted to parliament last year after receiving cabinet approval.


The Senate gave its final approval to amendments to the Disabilities Act, which would toughen penalties for those convicted of bullying persons with disabilities, Youm7 reports. The amendments increase the minimum sentence to two years from one, and to three years if the perpetrator is the guardian of the bullied person. The law also stipulates a fine between EGP 50-100k for those convicted of bullying, and of EGP 100-200k if the perpetrator is the bullied person’s guardian. The law was originally enacted in 2018 and its regulations mandated the establishment of special government services, including in healthcare, education, employment, and rehabilitation.

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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; 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; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.