Egypt Prime Minister approves amendments to capital market regulation

Prime Minister Mostafa Madbouly has approved amendments to some provisions of the executive regulations under Egypt's Capital Market Law No 95 of 1992.

These include a number of changes, most notably in the provisions related to real estate investment funds. The amendments allow for greater flexibility in implementing the investment policies and facilitating the practice of real estate investment activity, whilst also overcoming some problems in operational practices of this type of fund.

Financial Regulatory Authority (FRA) Chairperson Mohamed Omran revealed that the amendments introduced include a definition of the areas of real estate fund investments and overcoming the problem of real estate registration.

Investment in real estate assets that are not subject to legal cases can be raised or issued by a valid allocation decision from a competent state authority.