Press Room

December 14, 2018

From Egypt: Updates in Financial Leasing Laws

Source: Marina Iskander, Andersen Tax & Legal in Egypt, a member firm of Andersen Global

In August, President Abdel Fattah el Sisi ratified Law No. 176 of 2018, regulating financial leasing and factoring activities, and replacing both the old financial leasing law (Law No. 95 of 1995) and the ministerial decree No. 446 of 2003.

The new law lays down the rules and procedures for licensing financial leasing companies. Financial leasing companies own assets and provide financial leases, meaning that they lease them to companies for their use, control, and a share in any economic risk entailed.

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