Cairo, Egypt | 13 July 2023In July 2023, the Central Bank of Egypt (“CBE”) released new regulations and licensing requirements for digital banks (the “New Regulations”). This pivotal development in the banking sector is set to revolutionize the landscape of digital banking services in Egypt and the wider region.We will...
Cairo, Egypt | 22 June 2023In June 2023, the Prime Minister issued Decree No. 2140/2023 amending specific provisions in the Executive Regulations of the Investment Law issued by Prime Ministerial Decree No. 2310/2017, in respect of private free zones (the “New Amendment”).We will briefly touch upon the New Amendment. The...
Dubai, UAE | 29 January 2023 On 2 February 2022, Federal Decree-Law No. 33 of 2021, discussing the new employment law, as amended (the “New Labor Law”), came into force, requiring all employees to transition from unlimited-term contracts to fixed-term contracts by 1 February 2023.On 25 January 2023, the UAE Cabinet...
LEGAL UPDATE – 2 JANUARY 2023 We would like to announce that the law amendments to the Egyptian Competition Law (“ECL”) no. 3 of the year 2005 in relation to the Merger Control regime (the “Amendments”) have been enacted officially by virtue of the law no. 175 of the year 2022...
On 13 September 2022, the International Cooperation Department of the UAE Ministry of Justice issued a circular to the Dubai courts confirming the reciprocity of enforcing and executing judgments of the English courts in the UAE (the “Circular”). The Circular established that the reciprocity requirement provided for under Article 85...
“The future belongs to whoever designs it … and today, through the virtual assets law, we seek to participate in the design of this new and rapidly growing global sector.” Said H.H. Sheikh Mohamed bin Rashid Al Maktoum. On 28 February 2022, H.H. Sheikh Mohammed bin Rashid, Ruler of Dubai,...
Matouk Bassiouny & Hennawy’s arbitration team successfully hosted the Egyptian National Rounds of the FDI Moot for the second time. On the 20th & 21st of August 2021 teams from a range of Egyptian universities participated in the competition: Ain Shams University, Cairo University – English Section, Tanta University and...
This legal update provides a recap on the on-going material regulatory changes affecting importation activities in Algeria, with a focus on the Algerian automobile dealer industry.Importation activities subject to the 49/51 ruleIn a move to boost investments, the Algerian Finance Law for 2020 (promulgated on 30 December 2019) has lifted...
Matouk Bassiouny is pleased to announce the appointment of Mr. Jirayr Habibian as the new Managing Partner of Matouk Bassiouny’s UAE office. Jirayr, one of the top lawyers in the fields of corporate finance, trade finance, M&A transactions and capital markets across multiple jurisdictions including the UAE, Lebanon, Egypt and...
It was with pleasure that our Partner and Head of the Arbitration Department, Dr. Amr A. Abbas, participated in a panel of experts discussing Virtual Examination of Experts and Witnesses at the Time of COVID-19. Dr. Abbas discussed actual experience of MBH in conducting virtual examinations in hearings held during...
