{"id":568976,"date":"2020-02-10T04:39:06","date_gmt":"2020-02-10T04:39:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/"},"modified":"2020-02-10T04:39:06","modified_gmt":"2020-02-10T04:39:06","slug":"egypts-new-consumer-credit-act-to-receive-final-vote-soon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/","title":{"rendered":"Egypt\u2019s new Consumer Credit Act to receive final vote soon"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>LEGISLATION WATCH- Consumer Credit Act cleared for final vote; House working through a busy legislative agenda:<\/strong> 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, <a href=\"http:\/\/bit.ly\/2uyYHkR\">reports Al Shorouk<\/a>. The final vote was postponed due to lack of quorum. The 30-article draft would, if passed, introduce a complete legislative framework regulating consumer finance companies, outline the requirements necessary for their establishment, introduce \u201cdetailed\u201d regulations for those in the market, specify conditions in contracts with borrowers, and introduce new financial reporting rules for consumer finance players, according to a memo seen by the newspaper. You can refresh your memory on other <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ee9b1bd-0250-4d4d-aa64-3ef9886fbfcd\">key elements of the bill here<\/a>.<\/p>\n<p><strong>Anti-terror legislation to introduce sharper penalties, wider definition of funding: <\/strong>The House Legislative and Constitutional Affairs Committee has greenlit amendments to the Anti-Terrorism Act that would, if passed in a final vote, enact sharper penalties (up to the death penalty) for funding terrorist groups, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/363184\/Egypt\/Politics-\/Egyptian-parliament-approves-new-amendments-toughe.aspx\">reports Ahram Online<\/a>. The amendments also broaden the definition of what counts as funding terrorist acts to include providing training grounds for terrorists, weapons or documents in any form, or helping terrorists travel. The changes are expected to be discussed in a plenary session today or tomorrow.<\/p>\n<p><strong>Also approved in yesterday\u2019s general assembly:<\/strong><\/p>\n<ul>\n<li>An amendment to the recently ratified <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/25\/el-sisi-ratifies-egypts-new-social-security-and-pensions-act\/\">Social Security and Pensions Act<\/a> <strong>to settle a dispute with several pensioners<\/strong> by allowing them to add the previous five raises to their pensionable pay under the new law (<a href=\"https:\/\/alborsaanews.com\/2020\/02\/09\/1294129\">approved in principle<\/a>);<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/29\/egyptian-antiquity-smugglers-would-now-spend-more-time-in-prison-if-caught-2\/\">Amendments to the the Antiquities Protection Law<\/a> that would introduce <strong>harsher penalties for the illicit trade of artifacts<\/strong> (<a href=\"http:\/\/bit.ly\/2OD3PeQ\">approved in principle<\/a>);<\/li>\n<li><a href=\"http:\/\/bit.ly\/2SbGanD\">A bill<\/a> that would set up committees in governorates to <strong>organize street parking<\/strong>, as well as <a href=\"http:\/\/bit.ly\/3boEX3Y\">legislative stipulations<\/a> to regulate the job of a \u2018sayes\u2019 (street car park attendants);<\/li>\n<\/ul>\n<p><strong>And in the final piece of legislative news from a rather busy day at parliament:<\/strong> The House Transportation Committee has referred back to cabinet a <strong>proposed bill to regulate using inland waterways for shipping and transport<\/strong> for more work, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/09\/1294204\">reports the domestic press<\/a>. The bill, which the government recently proposed, aims to encourage use of the Nile as a transport artery by clarifying licensing procedures and how routes are approved, committee Chair Hisham Abdel Wahed said<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. The final vote was postponed due to lack [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":568977,"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":[4487,72,180,595,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-consumer-credit-act","tag-enterpriseam","tag-legislation","tag-non-banking-financial-services","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f8a1b3e0-fe2d-468a-9deb-2773d1a0f724","is_powered_by":true,"section_story_id":"7f61789c-708c-42c4-ad05-be211665ba2c","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/126.jpg","photo_position":"above","related_issue":[568968],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s new Consumer Credit Act to receive final vote soon - 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\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s new Consumer Credit Act to receive final vote soon\" \/>\n<meta property=\"og:description\" content=\"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. The final vote was postponed due to lack [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-10T04:39:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/126.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s new Consumer Credit Act to receive final vote soon\",\"datePublished\":\"2020-02-10T04:39:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\"},\"wordCount\":397,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/126.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Consumer Credit Act\",\"EnterpriseAM\",\"legislation\",\"non-banking financial services\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/egypts-new-consumer-credit-act-to-receive-final-vote-soon\/\",\"name\":\"Egypt\u2019s new Consumer Credit Act to receive final vote soon - 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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 &quot;Speed Round&quot;","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":569459,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/25\/egypts-house-approves-data-protection-consumer-credit-acts-amendments-to-anti-terrorism-act\/","url_meta":{"origin":568976,"position":1},"title":"Egypt\u2019s House approves data protection, consumer credit acts + amendments to anti-terrorism act","author":"enterpriseam admin","date":"25 February 2020","format":false,"excerpt":"LEGISLATION WATCH- Lawmakers had a busy day yesterday, giving final votes of approval to several key pieces of legislation. Among the bills that will now be signed into law by the president include: The Data Protection Act, which lays out the ground rules for how businesses use personal information collected\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568639,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/29\/consumer-credit-act-talks-to-be-finalized-in-next-two-weeks-fra-says\/","url_meta":{"origin":568976,"position":2},"title":"Consumer Credit Act talks to be finalized in next two weeks, FRA says","author":"enterpriseam admin","date":"29 January 2020","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599523,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/","url_meta":{"origin":568976,"position":3},"title":"FRA completes first draft of Consumer Credit Act","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"LEGISLATION WATCH- FRA completes first draft of Consumer Credit Act: The Financial Regulation Authority finished writing the first draft of its proposed Consumer Credit Act, FRA Deputy Chairman Khaled El Nashar told Al Mal. The proposed law differentiates between retailers offering sales on installment and consumer finance houses: All consumer\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":622218,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/","url_meta":{"origin":568976,"position":4},"title":"Cabinet approves Consumer Credit Act, sent to house for final vote","author":"enterpriseam admin","date":"29 November 2018","format":false,"excerpt":"LEGISLATION WATCH- The Madbouly Cabinet has reportedly approved the a bill that would create a consumer credit act and has sent it to the House of Representatives to become law, unnamed government sources told El Watan. The bill would, among other things, require companies to obtain a license from the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599275,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/egypts-house-econ-committee-to-hold-consultations-on-consumer-credit-act-with-industry-stakeholders\/","url_meta":{"origin":568976,"position":5},"title":"Egypt\u2019s House Econ Committee to hold consultations on Consumer Credit Act with industry stakeholders","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"LEGISLATION WATCH- House to hold consultations on Consumer Credit Act with industry stakeholders: The House Economic Committee will begin holding hearings within the next few days on the government\u2019s proposed Consumer Credit Act, inviting members of the Federation of Egyptian Industries, Federation of Egyptian Chambers of Commerce, and the Egyptian\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=568976"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568976\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568977"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568976"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568976"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}