Distribution versus Agency Agreement as applicable to pharmaceutical industry
Pharmaceutical sector of Egypt is one of the oldest strategic sectors in Egypt which has managed to reach an important measure to achieve self-sufficiency of the Egyptian medicine. The main competent authority responsible for managing pharmaceutical industry in Egypt is the Egyptian Drug Authority (EDA), which in its role has adopted policies targeting drug development in various stages of the industry, both in the field of pharmaceutical raw materials, basic chemicals, manufacturing and...
Overview on the Consumer Finance Companies in Egypt
The Financial Regulatory Authority in Egypt (“FRA”) is taking a positive step towards developing the non-banking financial services sector that can be clearly seen by issuing the new Consumer Finance Law No. 18 of the year 2020 and the FRA’s Decision No. 56 of the year 2020 concerning the Consumer Finance activities. Read more...
New Restriction on Arbitration Clauses in State – Foreign Investor Contracts
In order to improve the Egyptian status with regards to the international arbitration disputes, in which the state is party of whether wholly or partially, the Egyptian Prime Minister has issued a new Decree No. 2592 of the year 2020 (hereinafter referred to as the "New Decree"), which fundamentally and ambiguously amended the provisions of the Decree No. 1062 of the year 2019 on organizing the Supreme Commission to study and provide opinion on international arbitration cases, in which the...
Overview on the Legal Considerations of Construction in Egypt
Recently, Egypt has witnessed a remarkable increase in the number of construction companies and their activities regarding infrastructure and real estate development, and Egypt has declared its need for private investment to take a larger role in this sector. Read more...
Registration in the Egyptian Federation for Construction and Building Contractors
Egypt has one of the largest construction and building sectors in the MENA region, making it one of the most important factors that increases the county’s GDP. Prior to 1992 there was virtually no integrated organization in Egypt to sponsor and manage the profession or the industry making it accessible for companies and individuals with limited experience to participate. Read more...
Egypt: Clarifications on the free zones fees
Free zones are established in order to magnetize the investors via its prominent and premium investment system. As it provides the investors with safeguards and several benefits and incentives related to the goods and their in or out movements without having the hustle to deal with customs, import, export systems and any other investment related procedures, whereas the investor has taken the initiative and invested his money and efforts under the aegis of the free zone system. Read more...
Egypt Regulation: KYC compliance
Know your Customer (KYC) is a principle that states that “Every bank or broker-dealer shall use reasonable diligence, in regard to the opening and maintenance of every account, to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer.”[1] This principle is used to avoid fraud and ambiguity. Read more...
Egypt: The Rule of No-Fault Liability
In general, each person has a liability for his own acts. If any individual commits a fault, he is liable for it as a consequence of this harmful act or fault and this is called the Rule of Strict Liability. Read more...
Trial Proceedings in Criminal Cases before Egyptian Courts
Trial proceedings in criminal cases before the Egyptian courts are regulated by the Criminal Procedure Law No. 150 of 1950 and the amendments thereof. Before introducing these proceedings, criminal case and crime in brief are: Read more...
Egypt: New Law regarding the development of Medium, Small and Micro Enterprises
As part of the state’s efforts to encourage the Egyptian economy, the Egyptian President issued Law No. 152 of the year 2020 regarding the development of the medium, small, and micro-enterprises. Read more...
Between Force Majeure and Hardship, where does Covid-19 stand?
Following rapid spread of the novel coronavirus “Covid-19” that was first reported in the province of Wuhan, China in December, 2019, on 11th of March 2020, the World Health Organization declared Covid-19 to be a pandemic. Read more...
The Golden Licence Services in Egypt
Egypt’s investment Law No. 72 of the year 2017 was promulgated to promote foreign investment by offering further incentives, reducing bureaucracy, simplifying and enhancing the processes. Read more...
The Injunctions in the Egyptian Law
The injunction is a court order by which an individual is required to perform, or is restrained from performing, a particular act. A writ framed according to the circumstances of the individual case. Read more...
The Practice of Adjournments and Tactics: Delay of Justice in Egypt
Delay in the litigation process has become a global issue and Egypt is no exception. It has been exacerbated in Egypt in the last few years; whereas its issues have increased to the extent that the situation has reached a point that some disputes and cases extend for several years inside the Egyptian courts, and dozens of cases, some of which exceed a thousand paper, have piled inside the corridors of courts, and this is the reason behind the inquiries and astonishment of citizens concerning...
Non-Performing Assets: The Role of Banks and Financial Institutions in Egypt
On 16 March 2020, in response to the socioeconomic disruption caused by the global coronavirus (COVID-19) pandemic, the Central Bank of Egypt (CBE) issued a circular which put in place a moratorium on all repayments under existing credit facilities for a period of six months. Read more...
Egypt: CORONAVIRUS COVID-19 ‘s Effect on workflow
CORONAVIRUS COVID-19 's Effect on workflow (Employers and Employees) :On 11th of March, 2020, WHO Chief Dr. Tedros Adhanom Ghebreyesu had declared COVID-19 CORONAVIRUS as a pandemic, and the definition of Pandemic is a disease that is spreading in multiple countries around the world at the same time. Read more...
The Start of Digital Payment and Collection Systems in Egypt
Recently, the Egyptian President and the Parliament approved the issuance of new law that enables the e-payment, with its objective to facilitate wider financial coverage in Egypt, and align with the global trends in adopting policies that reduce the monetary handling, and replace them with banking financial instruments. Read more...
Egypt: Overview on the Capital Market Law Amendments
President Abdel Fattah El-Sisi approved Law No. 17 of the year 2018, which included wide-ranging amendments to the Capital Market Law, which included 45 new articles and amending 17 others. Read more...
Egypt’s new financial leasing law
In light of Egypt's relentless pursuit of a prosperous economic climate, the Egyptian Parliament passed on August 15, 2018 the new Law No. 176 of the year 2018 regulating both financial leasing and factoring activities, promulgating financial leasing Law No. 95 of the year 1995, which aims at steering economic volume and increasing production of small and medium enterprises. Read more...
The New Bankruptcy Law and its Effects in Egypt
The Egyptian Government set a new business plan of investments in Egypt which should encourage the local and the foreign investors by issuing the New Bankruptcy Law No. 11 of the year 2018. Read more...
Split-up of Companies in Egypt
Pursuant to the new Egyptian Company Law No.4 of the year 2018 and its Executive Regulations No.16 of the year 2018 on the amendments of certain Executive Regulation provisions of Joint Stock Companies, Partnerships Limited by Shares and Limited Liability Companies Law No.96 of the year 1982; Read more...