Maglis Al Dawla completes review of Bankruptcy, Organ Trafficking Acts

The Egyptian Council of State (Maglis Al Dawla) has completed its review of the Bankruptcy Act and will be referring the legislation to Cabinet for approval, Al Borsa reports. The act, which creates a clear regulatory framework for bankruptcy proceedings in the private sector, is part of a basket of structural reforms meant to improve Egypt’s business climate and boost investor confidence. The Maglis also approved a law imposing harsher penalties on illegal organ transplants, Ahram Online reports. Under the law, penalties imposed on unauthorized organ transplant include fines of up to EGP 2 mn, prison sentences, and even the death penalty in cases where the victims have died as a result of the procedure.