Key Highlights of Egypt’s Capital Market Law Amendments

Special Report

Published: 1 April 2018

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Summary

On March 12th, amendments to the executive regulations of Egypt’s Capital Market law were published in the Official Gazette, under decree No. 40 of 2018. Moreover, on March 14th, Law No. 17 of 2018 was published in the Official Gazette; amending Egypt’s Capital Market Law No. 95 of 1992. The amendments primarily aim at protecting the rights of minority shareholders, especially in acquisition cases, and enforcing stricter penalties and fines for violations of the law. The amendments also cover the issuance of Sukuks (Sharia-compliant bonds), the trading of futures contracts and giving the Egyptian Exchange (EGX) flexibility to set lower listing fees to attract smaller companies to the market. In this brief note, we present the main highlights of the amendments.


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