On 19 June 2025, the Central Bank of Egypt (“CBE”) issued long-anticipated Licensing and Registration Rules for Payment System Operators (“PSOs”) and Payment Service Providers (“PSPs”) (the “Rules”). Issued pursuant to Articles 184 to 200 of Banking Law No. 194 of 2020, the Rules aim to strengthen the regulatory environment...
The post-COVID rebound of the global aviation industry presents a timely opportunity for Egypt, which is actively positioning itself as a potential regional aviation hub. The Egyptian government has recognized the sector's potential to generate substantial foreign currency inflows and is therefore pursuing wide-ranging reforms and investment opportunities. From infrastructure...
In business disputes, one frequent concern is the risk that a party might attempt to dissipate assets by selling, transferring, or concealing them to avoid the enforcement of a potential judgment. To safeguard against this, the courts in the Dubai International Financial Centre (“DIFC”) and Abu Dhabi Global Market (“ADGM”)...
On May 3, 2025, the New Egyptian Labor Law No. 14 for the year 2025 was published in the Egyptian Official Gazette (the “New Labor Law”), replacing the long-standing Labor Law No. 12 of 2003 (the “Previous Labor Law”). The New Labor Law will enter into force at the beginning...
On 12 February 2025, Egypt introduced Laws No. 5, 6, and 7 of 2025, implementing key tax reforms to encourage voluntary registration, provide tax incentives for businesses with annual revenue up to EGP 20M, and amend tax procedures. The laws came into effect on 13 February 2025 (Effective Date). We...
The Real Estate and Commercial Affairs Sector of the New Urban Communities Authority (“NUCA”) issued a notice to the Western North Coast Development Authority regarding land ownership and development within Egypt’s Western North Coast region, pursuant to Presidential Decree №. 361 of 2020. Key provisions:1. Acts of Disposal and Transfer of...
On 29 June 2024, the General Assembly for Advisory and Legislation Divisions at the State Council (the “General Assembly”) issued a landmark opinion (the “Opinion”) exempting hotels and touristic establishments from contributing to the Ministry of Manpower Vocational Training Fund(the “Vocational Training Fund”). The recent developments indicate that hotels and...
Cairo, Egypt We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) Arbitration Group has successfully secured a favorable ad-hoc arbitral award in an arbitration hosted by CRCICA for one of the largest master developers in the Red Sea. The case consisted of a claim of nearly USD 11...
On 23rd November 2023, a new decree no. 23-429 was issued, establishing a public register of the Ultimate Beneficial Owner(s) ("UBO"). The register of beneficial owners shall be established at the national center of the commercial register containing information on the UBO through a public database in which data and...
We would like to announce that today, 8 April 2024, the Egyptian Gazette published the National Wage Council Decree number 27 for the year 2024 increasing the minimum monthly wage of private sector employees to EGP 6,000 (six thousand Egyptian Pounds) effective as of 1st of May 2024. Establishments encountering...
