{"id":324970,"date":"2022-03-22T13:11:03","date_gmt":"2022-03-22T13:11:03","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324970"},"modified":"2022-03-23T13:15:01","modified_gmt":"2022-03-23T13:15:01","slug":"egypts-president-ratifies-capital-market-law-amends","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/","title":{"rendered":"Egypt&#8217;s President ratifies Capital Market Law amends"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This is in return for the future cash inflows into these entities. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Omran stressed the authority\u2019s keenness to quickly issue the executive decisions necessary to put into effect the amendments to the capital market law. This is to allow the national economy to witness the issuance of the first bonds to securitise rights and expected future financial entitlements, in addition to allowing the authorities in charge of utilities and public services affairs in the country to provide the necessary funding for them by allocating the proceeds of issuing these bonds to completing infrastructure projects. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This will be of great help to the funding issue. It is important to note that these projects have become a requirement of daily life, which means that citizens\u2019 demand for them will not wane.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Omran said that Capital Market Law No. 95 of 1992 regulates the activity of securitising deferred financial rights as one of the effective means of financing through issuing negotiable bonds in exchange for a transfer of financial rights and outstanding deferred dues. This witnessed a remarkable turnout as one of the financing alternatives of the non-banking sector. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The volume of securitisation bond issuances in 2020 exceeded EGP 24bn. Furthermore, the volume of securitisation bonds in 2021 amounted to EGP 19bn. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The Board of Directors of the FRA approved nine issuance programmes for securitisation bonds in 2021 with a total value of EGP 42.3bn, with the programmes eventually issuing securitisation bonds worth EGP 18.8bn, highlighting that securitisation has become a major source of financing projects in general.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Omran added that \u2014 according to the studies conducted by the authority to meet the ongoing financing needs on a national level, and in line with the best international practices in force in this regard \u2014 the authority previously submitted a draft legislative amendment to the capital market law in mid-2021 to find a new financing tool to securitise expected future financial rights and receivables.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The head of the authority explained that the amendments issued to the capital market law included utilising the positive side of the precautionary measures that the authority demanded to implement at the beginning of the pandemic in the ways of convening general assemblies. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Entities whose securities are listed on the EGX were obligated to allow the use of electronic systems that allow shareholders to attend the meetings of the General Assembly and establish procedures as well as vote on them remotely in accordance with the conditions, controls, and procedures issued by the FRA\u2019s Board of Directors.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Some important sectors are expected to benefit from the securitisation of their expected future financial rights, including electricity, gas, water, communications, roads and bridges, passenger and cargo transportation, health, education, and housing.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.<\/p>\n","protected":false},"author":4,"featured_media":319938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-324970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt&#039;s President ratifies Capital Market Law amends - egy-africa<\/title>\n<meta name=\"description\" content=\"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt&#039;s President ratifies Capital Market Law amends - egy-africa\" \/>\n<meta property=\"og:description\" content=\"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-22T13:11:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-23T13:15:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/\",\"name\":\"Egypt's President ratifies Capital Market Law amends - egy-africa\",\"isPartOf\":{\"@id\":\"https:\/\/egy-africa.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1\",\"datePublished\":\"2022-03-22T13:11:03+00:00\",\"dateModified\":\"2022-03-23T13:15:01+00:00\",\"author\":{\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131\"},\"description\":\"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.\",\"breadcrumb\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1\",\"width\":750,\"height\":430,\"caption\":\"Chairperson of the FRA, Mohamed Omran,\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/egy-africa.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt&#8217;s President ratifies Capital Market Law amends\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/egy-africa.com\/en\/#website\",\"url\":\"https:\/\/egy-africa.com\/en\/\",\"name\":\"egy-africa\",\"description\":\"Just another WordPress site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/egy-africa.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131\",\"name\":\"Aya Abdulghany\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g\",\"caption\":\"Aya Abdulghany\"},\"sameAs\":[\"http:\/\/egy-africa.com\",\"mohamed nour\"],\"url\":\"https:\/\/egy-africa.com\/en\/author\/aya-abdulghany\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Egypt's President ratifies Capital Market Law amends - egy-africa","description":"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/","og_locale":"en_US","og_type":"article","og_title":"Egypt's President ratifies Capital Market Law amends - egy-africa","og_description":"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.","og_url":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/","og_site_name":"egy-africa","article_published_time":"2022-03-22T13:11:03+00:00","article_modified_time":"2022-03-23T13:15:01+00:00","og_image":[{"width":750,"height":430,"url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1","type":"image\/jpeg"}],"author":"Aya Abdulghany","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Aya Abdulghany","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/","url":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/","name":"Egypt's President ratifies Capital Market Law amends - egy-africa","isPartOf":{"@id":"https:\/\/egy-africa.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage"},"image":{"@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1","datePublished":"2022-03-22T13:11:03+00:00","dateModified":"2022-03-23T13:15:01+00:00","author":{"@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131"},"description":"Mohamed Omran \u2014 the Chairperson of the Financial Regulatory Authority (FRA) \u2014 said that President Abdel Fattah Al-Sisi issued Law No. 13 of 2022 amending some provisions of Capital Market Law No. 95 of 1992 and the securitisation of rights and expected future financial receivables as a non-traditional financing tool to finance public or private legal persons after the approval of the authority.","breadcrumb":{"@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#primaryimage","url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1","contentUrl":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1","width":750,"height":430,"caption":"Chairperson of the FRA, Mohamed Omran,"},{"@type":"BreadcrumbList","@id":"https:\/\/egy-africa.com\/en\/2022\/03\/22\/egypts-president-ratifies-capital-market-law-amends\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/egy-africa.com\/en\/"},{"@type":"ListItem","position":2,"name":"Egypt&#8217;s President ratifies Capital Market Law amends"}]},{"@type":"WebSite","@id":"https:\/\/egy-africa.com\/en\/#website","url":"https:\/\/egy-africa.com\/en\/","name":"egy-africa","description":"Just another WordPress site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/egy-africa.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131","name":"Aya Abdulghany","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g","caption":"Aya Abdulghany"},"sameAs":["http:\/\/egy-africa.com","mohamed nour"],"url":"https:\/\/egy-africa.com\/en\/author\/aya-abdulghany\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/Mohamed-Omran-EFSA-3.jpg?fit=750%2C430&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pcF3XZ-1mxs","_links":{"self":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/comments?post=324970"}],"version-history":[{"count":1,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324970\/revisions"}],"predecessor-version":[{"id":324971,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324970\/revisions\/324971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/media\/319938"}],"wp:attachment":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/media?parent=324970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/categories?post=324970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/tags?post=324970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}