It’s looking like local elections will not be happening anytime soon, as the Local Administration Act — which sets up locally elected councils — will take 3-5 years to be implemented, according to Mohamed Elsewedy, who heads the House’s majority Support Egypt coalition. The law is currently with Maglis El Dawla (Council of State) and will be with the House of Representatives following the review, he tells Al Mal. The government had initially stated that these local elections would take place following the 2018 presidential ballot.
More from Enterprise
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Gulf stock exchanges are growing in importance, but they’re still a long way from becoming capital market hubs -Fitch
The diagnosis lands in a year when UAE and Saudi…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…