Regulatory Alerts2019-01-01
Presidential Decree No. 335 of 2019 of the Arab Republic of Egypt
The President of the Arab Republic of Egypt issued Presidential Decree No. 335 of 2019 to establish the Egyptian Center for Optional Arbitration and Non-Banking Financial Dispute Resolution as an independent, non-profit legal entity under the supervision of the Financial Regulatory Authority. The decree mandates that the Center exclusively handles arbitration and alternative dispute resolution for conflicts arising from non-banking financial transactions, requiring explicit party consent for jurisdiction and permitting electronic submissions. It outlines the Center's governance structure, including a Board of Trustees and a full-time Executive Director, defines its funding sources, and tasks the competent Minister with issuing its operational bylaws within six months.