{"id":599523,"date":"2019-01-02T04:14:27","date_gmt":"2019-01-02T04:14:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/"},"modified":"2019-01-02T04:14:27","modified_gmt":"2019-01-02T04:14:27","slug":"fra-completes-first-draft-of-consumer-credit-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/","title":{"rendered":"FRA completes first draft of Consumer Credit Act"},"content":{"rendered":"<p><b>LEGISLATION WATCH- FRA completes first draft of Consumer Credit Act: <\/b>The Financial Regulation Authority finished writing the first draft of its proposed Consumer Credit Act, FRA Deputy Chairman <a href=\"https:\/\/www.almalnews.com\/Story\/404960\/14\/%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D9%86%D9%87%D9%89-%D9%85%D8%B3%D9%88%D8%AF%D8%A9-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D9%87%D9%84%D8%A7%D9%83%D9%89\">Khaled El Nashar told Al Mal<\/a>. The <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/27\/fra-working-on-consumer-credit-act-expect-to-see-a-draft-circulating-in-the-coming-week\/\">proposed law<\/a> differentiates between retailers offering sales on installment and consumer finance houses: All consumer finance companies will be subject to the act, while retailers will fall under it only when on-installment sales break the EGP 25 mn mark. The legislation, drafted after <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/23\/egypts-fra-involves-businesses-in-consumer-credit-act-draft\/\">industry consultations<\/a>, will now be subject to internal scrutiny at the FRA before it is passed to the Council of Ministers for review.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 finance companies will be subject [&hellip;]<\/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":[4487,72,76,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599523","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-consumer-credit-act","tag-enterpriseam","tag-financial-regulatory-authority","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3c75b84e-c590-4664-98fd-262851ea8f3a","is_powered_by":true,"section_story_id":"4a08aec4-b384-4035-93ff-e543712bb731","story_type":"1","photo_url":"","photo_position":"above","related_issue":[599513],"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>FRA completes first draft of Consumer Credit 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\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA completes first draft of Consumer Credit Act\" \/>\n<meta property=\"og:description\" content=\"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 finance companies will be subject [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-02T04:14:27+00:00\" \/>\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\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA completes first draft of Consumer Credit Act\",\"datePublished\":\"2019-01-02T04:14:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\"},\"wordCount\":108,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Consumer Credit Act\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"legislation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/fra-completes-first-draft-of-consumer-credit-act\/\",\"name\":\"FRA completes first draft of Consumer Credit Act - 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The draft consumer credit bill, which the FRA is set to introduce\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\/4\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","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":599523,"position":1},"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":[]},{"id":599226,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/23\/house-agrees-to-govt-proposed-bills-to-support-civil-servants\/","url_meta":{"origin":599523,"position":2},"title":"House agrees to gov\u2019t-proposed bills to support civil servants","author":"enterpriseam admin","date":"23 June 2019","format":false,"excerpt":"LEGISLATION WATCH- House committee okays draft Consumer Credit Act: The House Economic Committee has signed off on a draft of the government\u2019s proposed Consumer Credit Act, which would regulate the nation\u2019s fast-growing consumer credit industry, Al Shorouk reports. The government says the bill would improve transparency in the sector and\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":600259,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/parliament-government-want-to-regulate-crowdfunding-and-real-estate-developers\/","url_meta":{"origin":599523,"position":3},"title":"Parliament, government want to regulate crowdfunding and real estate developers","author":"enterpriseam admin","date":"23 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Regulating all the things: Crowdfunding is now on the FRA\u2019s priority list: Financial Regulatory Authority (FRA) boss Mohamed Omran outlined his agency\u2019s list of legislative priorities in a briefing with reporters yesterday. The FRA chairman says the market regulator is looking to regulate crowdfunding as well as real\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":621744,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/egypts-fra-says-consumer-credit-draft-in-final-stages\/","url_meta":{"origin":599523,"position":4},"title":"Egypt\u2019s FRA says consumer credit draft in final stages","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"LEGISLATION WATCH- FRA says Consumer Credit Act is in its final stages: The Financial Regulatory Authority (FRA) is in the final stages of drafting the Consumer Credit Act, FRA boss Mohamed Omran said on Thursday, according to Al Mal. 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