{"id":568639,"date":"2020-01-29T04:19:31","date_gmt":"2020-01-29T04:19:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/29\/consumer-credit-act-talks-to-be-finalized-in-next-two-weeks-fra-says\/"},"modified":"2020-01-29T04:19:31","modified_gmt":"2020-01-29T04:19:31","slug":"consumer-credit-act-talks-to-be-finalized-in-next-two-weeks-fra-says","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/29\/consumer-credit-act-talks-to-be-finalized-in-next-two-weeks-fra-says\/","title":{"rendered":"Consumer Credit Act talks to be finalized in next two weeks, FRA says"},"content":{"rendered":"

LEGISLATION WATCH-<\/strong> The Consumer Credit Act will be introduced to the House of <\/strong>Representatives<\/strong> within the coming two weeks<\/strong>, Chairman of the Financial Regulatory Authority Mohamed Omran said yesterday, after the House Economic Committee signed off on the legislation. The local press is reporting<\/a> that the committee introduced a new article listing the types of goods eligible to receive consumer finance. The legislation is now with the House General Committee, which will decide in a few days whether to introduce it to the general assembly.<\/p>\n

Background:<\/strong> We reported yesterday<\/a> that the House had given a preliminary nod<\/a> to the Consumer Credit Act. Under the legislation, new consumer finance companies with at least EGP 10 mn in issued capital would be able to obtain a license from the FRA. Companies must also be at least 25% owned by a financial institution, and be founded by legal persons that hold at least 50% of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- The Consumer Credit Act will be introduced to the House of Representatives within the coming two weeks, Chairman of the Financial Regulatory Authority Mohamed Omran said yesterday, after the House Economic Committee signed off on the legislation. The local press is reporting that the committee introduced a new article listing the types of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[4487,72,76,274,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568639","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-consumer-credit-act","tag-enterpriseam","tag-financial-regulatory-authority","tag-house-of-representatives","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7200fe7d-2bb5-46e0-b21d-56b7815cd956","is_powered_by":true,"section_story_id":"2877d791-80e7-4b96-8671-88c51bc78045","story_type":"1","photo_url":"","photo_position":"above","related_issue":[568619],"teaser":"","voice_url":""},"yoast_head":"\nConsumer Credit Act talks to be finalized in next two weeks, FRA says - 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\/29\/consumer-credit-act-talks-to-be-finalized-in-next-two-weeks-fra-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consumer Credit Act talks to be finalized in next two weeks, FRA says\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- The Consumer Credit Act will be introduced to the House of Representatives within the coming two weeks, Chairman of the Financial Regulatory Authority Mohamed Omran said yesterday, after the House Economic Committee signed off on the legislation. 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The government says the bill would improve transparency in the sector and\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":567559,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/27\/house-approves-tax-dispute-consumer-credit-bills-in-principle\/","url_meta":{"origin":568639,"position":2},"title":"House approves Tax Dispute, Consumer Credit bills in principle","author":"enterpriseam admin","date":"27 January 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves Tax Dispute Act in principle: The House of Representatives yesterday approved in principle the government\u2019s temporary tax dispute legislation, according to Al Shorouk. The Tax Dispute Act, which gained cabinet approval in December, would extend the recently expired Tax Dispute Resolution Act, mandating newly-established dispute settlement\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\/2020\/1\/704.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575592,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/consumer-finance-companies-get-six-month-extension-to-comply-with-consumer-credit-act\/","url_meta":{"origin":568639,"position":3},"title":"Consumer finance companies get six-month extension to comply with Consumer Credit Act","author":"enterpriseam admin","date":"20 October 2020","format":false,"excerpt":"REGULATION WATCH- Consumer finance companies will get an additional six months to complete their licensing and bring their operations in line with the new Consumer Credit Act, the FRA decided, according to the local press. Companies must submit a timeline outlining their plans by 31 October, and will have until\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":568976,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/","url_meta":{"origin":568639,"position":4},"title":"Egypt\u2019s new Consumer Credit Act to receive final vote soon","author":"enterpriseam admin","date":"10 February 2020","format":false,"excerpt":"LEGISLATION WATCH- Consumer Credit Act cleared for final vote; House working through a busy legislative agenda: The House of Representatives cleared the way for a final vote on the proposed Consumer Credit Act after the bill won in-principle approval at a plenary session yesterday, reports Al Shorouk. 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