Regulatory Alerts2016-01-01
Minister of Investment Decision No. (6) of 2016 Amending Certain Provisions of the Executive Regulations of the Capital Market Law Issued by Decision No. (135) of 1993
The Egyptian Minister of Investment issued Decision No. (6) of 2016 to amend the Executive Regulations of the Capital Market Law, introducing a legal definition for charitable investment funds and establishing a regulatory framework for their establishment, operation, and asset distribution. The decision permits the private issuance of unrated bonds and financing certificates, outlines licensing requirements for joint-stock companies to issue asset-backed securities, and grants the Financial Regulatory Authority specific oversight and rulemaking powers over these instruments. Additionally, it repeals the final paragraph of Article 34 of the regulations and updates chapter titles to reflect the new securitization and fund provisions, effective the day after publication in the Egyptian Gazette.