Fatma Salah

FRA’s New Approvals for Ownership, Acquisition, or Merger of Non-Banking Financial Companies

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On August 29, 2024, the Financial Regulatory Authority (FRA) issued Decree No. 178 of 2024, setting out a structured framework for approving ownership, control, acquisition, or merger of companies involved in non-banking financial activities (“Non-Banking Financial Companies” or “NBFCs”). The decree enhances oversight, ensuring compliance with ownership thresholds and competition standards within Egypt’s financial sector. … Read more

Riad & Riad Sponsors MENA Employment Summit 2024 — Dr. Eman Riad to Lead Session on Workplace Internal Investigations

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We are delighted to announce Riad & Riad’s sponsorship of the MENA Employment Summit, taking place on November 21, 2024, in Dubai. This summit will gather regional leaders in employment law and human resources for a day of in-depth discussion on the latest in employment practices and regulations. Our own Dr. Eman Riad, Partner at … Read more

Riad & Riad Sponsors Sharm El Sheikh IX on the Role of Courts in International Arbitration

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We are pleased to announce that Riad & Riad is a sponsor of Sharm El Sheikh IX conference organized by CRCICA. Sharm El Sheikh IX is an internationally recognized conference focused on the evolving Role of Courts in International Arbitration. Held in the beautiful city of Sharm El Sheikh, this prestigious gathering will convene leading … Read more

Understanding Saudi Arabia’s New Real Estate Tax Law: Key Changes and Implications

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On Tuesday, September 17, 2024 (14th of Rabi Al Awal 1446), the Cabinet of the Kingdom of Saudi Arabia issued Decree No. 239 of 1446, officially approving a new Real Estate Transactions Tax Law (“Law”). The Law was published in Umm Al-Qura Journal No. 5051 on October 11, 2024 (8th of Rabi Al Thani 1446). … Read more

Egypt’s New Trade and Settlement Rules for Private-to-Private (P2P) Projects – A Pathway to Private Investment in Electricity

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Egypt, in alignment with its Vision 2030, is actively promoting renewable energy investment through the Egyptian Electricity Utility and Consumer Protection Regulatory Authority (EgyptERA). In support of this goal, EgyptERA has introduced Trade and Settlement Rules (Rules) for Private-to-Private (P2P) Projects, designed to facilitate private sector involvement in electricity production. Operating without state-backed guarantees, these … Read more

FRA Approves Egypt’s First SPAC and Establishes New Regulatory Framework

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On September 25, 2024, the Egyptian Financial Regulatory Authority (FRA) marked a milestone by approving the country’s first Special Purpose Acquisition Company (SPAC) under Decree No. 2323/2024. This move comes on the heels of FRA’s Decrees No. 140 and No. 148, introduced in July 2024 to define the requirements and regulatory framework for SPACs in … Read more

Guide to Egypt’s New Voluntary Carbon Market: A Corporate and Legal Perspective

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Introduction On August 13, 2024, Egypt took a bold step toward sustainable investment by launching its first organized voluntary carbon market (VCM). The VCM is dedicated to the registration, issuance, and trading of Certified Emission Reductions (CERs), or “carbon credits.” This initiative was announced by the Minister of Planning, Economic Development, and International Cooperation at … Read more

New Saudi Commercial Register and Trade Names Laws: Navigating the Changes

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Overview On October 4, 2024, the Saudi government issued Royal Decree No. (83/M), enacting the New Saudi Commercial Register and Trade Names Laws. Set to take effect 180 days after publication, these laws replace existing regulations and align with Saudi Vision 2030, aiming to foster a vibrant economic environment. Key Highlights 1. New Saudi Commercial … Read more

Egypt’s New Unified Insurance Law: A Transformative Step for the Insurance Sector

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Egypt introduced the Unified Insurance Law No. 155 of 2024, marking a significant overhaul of the regulatory framework governing the insurance and reinsurance sector. This comprehensive law, which consists of 224 articles organized into three chapters, took effect on July 11, 2024, and aims to streamline and modernize insurance practices in Egypt. Key Highlights of … Read more

New Elderly Care Law: A Comprehensive Framework for Protecting Seniors’ Rights in Egypt

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On April 4, 2024, Egypt enacted the Elderly Care Law No. 19 of 2024, effective immediately. This legislation targets individuals aged 65 and older, including expatriates residing in Egypt who meet their home country’s retirement age requirements, contingent on reciprocal treatment. Purpose of the Law The Elderly Care Law aims to safeguard the rights and … Read more

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