{"id":622218,"date":"2018-11-29T04:41:40","date_gmt":"2018-11-29T04:41:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/"},"modified":"2018-11-29T04:41:40","modified_gmt":"2018-11-29T04:41:40","slug":"cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/","title":{"rendered":"Cabinet approves Consumer Credit Act, sent to house for final vote"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- The Madbouly Cabinet has reportedly approved the a bill that would create a consumer credit act <\/strong>and has sent it to the House of Representatives to become law, unnamed government sources told El Watan<\/a>. The bill would, among other things, require companies to obtain a license from the Financial Regulatory Authority to sell goods on installment (see our note on that earlier this month<\/a>). The 22-article draft would require companies seeking a license to have at least EGP 10 mn in capital The FRA will only grant licenses to companies who operate exclusively in consumer finance, which the proposed law defines as \u201cany activity or operation aiming to fund purchases of consumer and durable goods and transportation vehicles\u201d, and related sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Financial Regulatory Authority to sell […]<\/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":[4487,72,76,180,1350,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622218","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-consumer-credit-act","tag-enterpriseam","tag-financial-regulatory-authority","tag-legislation","tag-madbouly-cabinet","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f6d71b20-4845-40bb-bd03-8b9e8c196029","order":"0","is_powered_by":true,"section_story_id":"70bfc918-7cf9-4e7d-be7a-173967e270c7","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622204],"teaser":"","voice_url":""},"yoast_head":"\nCabinet approves Consumer Credit Act, sent to house for final vote - 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\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet approves Consumer Credit Act, sent to house for final vote\" \/>\n<meta property=\"og:description\" content=\"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 Financial Regulatory Authority to sell […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-29T04:41:40+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\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cabinet approves Consumer Credit Act, sent to house for final vote\",\"datePublished\":\"2018-11-29T04:41:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\"},\"wordCount\":133,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Consumer Credit Act\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"legislation\",\"Madbouly Cabinet\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cabinet-approves-consumer-credit-act-sent-to-house-for-final-vote\/\",\"name\":\"Cabinet approves Consumer Credit Act, sent to house for final vote - 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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":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":622218,"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 "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":622218,"position":3},"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":600714,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/07\/egypts-cabinet-greenlights-consumer-credit-act\/","url_meta":{"origin":622218,"position":4},"title":"Egypt\u2019s Cabinet greenlights Consumer Credit Act","author":"enterpriseam admin","date":"7 February 2019","format":false,"excerpt":"CABINET WATCH- Cabinet greenlights Consumer Credit Act: The Madbouly Cabinet approved yesterday the draft Consumer Credit Act, which would govern retail financing and consumer credit, according to a Cabinet statement. The 30-article bill would set up a federation for non-banking consumer finance and require companies to obtain a license from\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":572783,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/more-consumer-products-are-now-eligible-for-finance-as-fra-looks-to-boost-consumer-spending\/","url_meta":{"origin":622218,"position":5},"title":"More consumer products are now eligible for finance as FRA looks to boost consumer spending","author":"enterpriseam admin","date":"8 July 2020","format":false,"excerpt":"LEGISLATION WATCH- You can get consumer finance for just about anything now: Consumers will now be able to pay for more products in installments after the Financial Regulatory Authority (FRA) approved a list of new goods eligible for financing under the consumer financing law, according to Hapi Journal. 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