Parliament committee approves Economic Courts Act amendments

LEGISLATION WATCH- House committee gives nod to widening the jurisdiction of economic courts: The House of Representatives’ Legislative Committee has approved amendments to the Economic Courts Act that aim to expand the scope of the nation’s economic courts to cover new business and finance activity. The measures will also expedite court proceedings, Al Masry Al Youm reported. The draft amendments give the court jurisdiction over cases arising from microfinance, sukuk, money laundry, and bankruptcy issues. The amendments, if passed, would allow for the electronic filing of cases and the completion of certain court procedures online. The measures will require a vote by the House general assembly and sign-off by President Abdel Fattah El Sisi before becoming law.