Egypt

The monetary and banking system of Egypt is regulated by the Central Bank and Banking Sector Act No. 194 of 2020 that ensures the autonomy of the Central Bank of Egypt and sets much higher capital requirements. Moreover, the act contributes to the modernization of the financial industry by providing regulation of the process of issuing licenses for digital banks and introducing a prohibition on unlicensed cryptocurrency business. For additional information concerning Egyptian banking law, refer to the website of the Central Bank of Egypt.

The monetary and banking system of Egypt is regulated by the Central Bank and Banking Sector Act No. 194 of 2020 that ensures the autonomy of the Central Bank of Egypt and sets much higher capital requirements. Moreover, the act contributes to the modernization of the financial industry by providing regulation of the process of issuing licenses for digital banks and introducing a prohibition on unlicensed cryptocurrency business. For additional information concerning Egyptian banking law, refer to the website of the Central Bank of Egypt.

The Anti-Money Laundering Law Number 80 of 2002 is the most important law for Egypt with regard to the prevention of money laundering through the criminalization of the hiding or integration of the proceeds of any crime. This law falls under the jurisdiction of the Egyptian Unit for Combating Money Laundering and Terrorist Financing.

The Capital Markets Law Number 95 of 1992 is the primary legislation for securities transactions, functioning markets, and investment funds in Egypt. This law is supervised by the Financial Regulatory Authority. The law deals with company listing, the disclosure process, the regulation of financial instruments such as green bonds, and the prohibition of market manipulation.