{"id":567253,"date":"2020-01-16T04:07:08","date_gmt":"2020-01-16T04:07:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/"},"modified":"2020-01-16T04:07:08","modified_gmt":"2020-01-16T04:07:08","slug":"house-committee-asks-amer-to-clarify-aspects-of-banking-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/","title":{"rendered":"House committee asks Amer to clarify aspects of Banking Act"},"content":{"rendered":"

LEGISLATION WATCH- House committee asks Amer to clarify aspects of Banking Act:<\/strong> The House of Representatives\u2019 Economic Committee has approved the proposed overhaul of the Central Bank and Banking Act in principle but asked central bank Governor Tarek Amer to clarify several aspects of the bill, according to Al Mal.<\/a> These include how the legislation would prevent monopolistic practices and the mechanisms for handling shortages of hard currency.<\/p>\n

The committee will discuss the bill again next week <\/strong>with the goal of sending it to the floor of the House for a vote shortly after. The Madbouly Cabinet had approved the 242-article final draft of the act in October 2019.<\/a><\/p>\n

What\u2019s in the bill?<\/strong> The Central Bank and Banking Act would grant the Central Bank of Egypt increased oversight over the banking sector. It would raise capital requirements for local and foreign banks and introduce measures governing e-payment, fintech businesses, and cryptocurrencies. It would also enhance data protection and customer privacy by requiring banks to obtain written consent for indirect or direct data dissemination.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- House committee asks Amer to clarify aspects of Banking Act: The House of Representatives\u2019 Economic Committee has approved the proposed overhaul of the Central Bank and Banking Act in principle but asked central bank Governor Tarek Amer to clarify several aspects of the bill, according to Al Mal. These include how the legislation […]<\/p>\n","protected":false},"author":1,"featured_media":567254,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[3679,72,2380,927],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-banking-act","tag-enterpriseam","tag-speed-round","tag-tarek-amer","wpautop","entry"],"acf":{"mongo_id":"8f004a80-3331-4c39-97b1-d81980e9e1f7","is_powered_by":true,"section_story_id":"a28ee6ae-8001-4696-b7cd-fadeae71c157","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/621.jpg","photo_position":"above","related_issue":[567233],"teaser":"","voice_url":""},"yoast_head":"\nHouse committee asks Amer to clarify aspects of Banking Act - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House committee asks Amer to clarify aspects of Banking Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- House committee asks Amer to clarify aspects of Banking Act: The House of Representatives\u2019 Economic Committee has approved the proposed overhaul of the Central Bank and Banking Act in principle but asked central bank Governor Tarek Amer to clarify several aspects of the bill, according to Al Mal. These include how the legislation […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-16T04:07:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/621.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House committee asks Amer to clarify aspects of Banking Act\",\"datePublished\":\"2020-01-16T04:07:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/621.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Banking Act\",\"EnterpriseAM\",\"SPEED ROUND\",\"Tarek Amer\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-committee-asks-amer-to-clarify-aspects-of-banking-act\/\",\"name\":\"House committee asks Amer to clarify aspects of Banking Act - 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CBE Governor Tarek Amer had discussed with President Abdel Fattah El Sisi earlier this month\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598125,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/cbe-boss-presents-draft-banking-act-to-cabinet\/","url_meta":{"origin":567253,"position":1},"title":"CBE boss presents draft Banking Act to cabinet","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Central Bank of Egypt Governor Tarek Amer presented to the Cabinet economic group yesterday an amended draft of the Banking Act, Al Mal reports. No further details were provided on the changes, but sources told the local press last month that a revised version of the bill would\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599890,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/central-bank-of-egypt-finalizes-draft-banking-act-sends-to-cabinet-for-review\/","url_meta":{"origin":567253,"position":2},"title":"Central Bank of Egypt finalizes draft Banking Act, sends to Cabinet for review","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"LEGISLATION WATCH- The central bank has finished drafting its new Banking Act and has sent it to the Madbouly Cabinet for review, Youm7 quotes CBE Deputy Governor Lobna Helal as having said yesterday at CI Capital\u2019s MENA Investors Conference. 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