Regulatory Alerts2022-01-01
Prime Minister's Resolution No. 3456 of 2022
The Egyptian Prime Minister issued Resolution No. 3456 of 2022 to amend the Executive Regulations of the Capital Market Law, establishing a comprehensive legal framework for sustainable finance and investment funds. The resolution defines open-end and closed-end funds, introduces six distinct bond categories (sustainability-linked, social, climate, women empowerment, environmental transition, and sustainability bonds), and mandates strict issuance procedures, dedicated fund management, periodic auditing, and transparent issuer reporting aligned with international standards. It repeals specific outdated provisions, takes effect the day after publication (with one item deferred to the next financial year), and authorizes Egyptian, international, and regional entities to issue these instruments for targeted domestic projects.