{"id":625895,"date":"2018-08-26T04:12:03","date_gmt":"2018-08-26T04:12:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/"},"modified":"2018-08-26T04:12:03","modified_gmt":"2018-08-26T04:12:03","slug":"el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/","title":{"rendered":"El Sisi ratifies Cyber Crimes Act, Leasing and Factoring Act"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>El Sisi ratifies cyber crimes, leasing and factoring acts:<\/strong> President Abdel Fattah El Sisi ratified last week the controversial Cyber Crimes Act, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/309885\/Egypt\/Politics-\/-Egypts-Sisi-ratifies-new-cybercrime-law-.aspx\">Ahram Online reported<\/a>. The law stipulates that internet service providers hold user data and records of web activity \u2014 including voice calls and browsing history \u2014 for a period of 180 days, <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/15\/cyber-crimes-act-forces-service-providers-to-hold-user-data-for-180-days\/\">among other stipulations<\/a>.<\/p>\n<p><strong>The law\u2019s ratification opened up the floodgates of criticism in the foreign press.<\/strong> Rights groups view the law as part of a \u201cseries of measures \u2026 aimed at curbing freedom of expression online, with the internet one of the last forums for public debate over Sisi\u2019s rule,\u201d <a href=\"https:\/\/www.news24.com\/Africa\/News\/egypt-president-approves-law-tightening-internet-controls-20180818\">AFP said<\/a>. Authorities maintain that the law is necessary for counterterrorism operations, the <a href=\"https:\/\/www.timesofisrael.com\/egypt-president-approves-law-tightening-internet-controls\/\">Times of Israel noted<\/a>. Islamist mouthpiece <a href=\"https:\/\/www.middleeasteye.net\/news\/egypts-sisi-signs-new-law-ban-threatening-websites-568350488\">Middle East Eye<\/a> also took note.<\/p>\n<p><strong>Also over the Eid break, El Sisi ratified the <\/strong><a href=\"https:\/\/alborsaanews.com\/2018\/08\/18\/1125589\"><strong>Leasing and Factoring Act<\/strong><\/a> (which regulates leasing and factoring as non-banking financial tools that are subject to oversight by the Financial Regulatory Authority), the <a href=\"https:\/\/alborsaanews.com\/2018\/08\/20\/1125940\"><strong>Sovereign Wealth Fund Act<\/strong><\/a>, and the <a href=\"http:\/\/almalnews.com\/Story\/386567\/14\/%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D9%8A%D8%B5%D8%AF%D9%82-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A8%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D9%88%D8%B2-%D8%B9%D9%86-%D8%A7%D9%84%D8%BA%D8%B1%D8%A7%D9%85%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%A7%D9%84%D8%A5%D8%B6%D8%A7%D9%81%D9%8A%D8%A9\"><strong>renewal of the Tax Dispute Resolution Act<\/strong><\/a>.<\/p>\n<p>Speaking of the sovereign wealth fund, <strong>the government has tasked a committee of legal and economic experts to advise on the act\u2019s executive regulations<\/strong>. The committee, which will set the framework for the EGP 200 bn fund, will lay the ground rules and set the criteria that will determine how staff will be hired, Planning Minister Hala El Saeed said on Thursday, <a href=\"http:\/\/almalnews.com\/Story\/386941\/15\/%D9%88%D8%B2%D9%8A%D8%B1%D8%A9-%D8%A7%D9%84%D8%AA%D8%AE%D8%B7%D9%8A%D8%B7-%D9%84%D8%AC%D9%86%D8%A9-%D9%84%D8%A5%D8%B9%D8%AF%D8%A7%D8%AF-%D8%A7%D9%84%D9%86%D8%B8%D8%A7%D9%85-%D8%A7%D9%84%D8%A3%D8%B3%D8%A7%D8%B3%D9%8A-%D9%84%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-\">Al Mal reports<\/a>. The government intends to put out a job posting for an executive director soon, before the final formation of the board is announced, she said. We had been expecting Prime Minister Mostafa Madbouly to <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/02\/what-were-tracking-this-week-and-beyond-16\/\">announce the details<\/a> of the board before the holiday, as the fund is set to launch before year\u2019s end.<\/p>\n<p><strong>Who\u2019s got oversight of the EGP 200 bn SWF? <\/strong>The board will be headed by the Planning Minister and include representatives from the ministries of finance and investment, alongside five other members who are yet to be selected. The regulations should be issued within 60 days and studies are ongoing to decide on a location to set up the fund\u2019s main headquarters.<\/p>\n<p><strong>Background: <\/strong>The House of Representatives had signed off on the law establishing the sovereign wealth fund last month.We had also <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/30\/sarie-eldin-pwc-baker-mckenzie-selected-to-advise-cabinet-on-governing-regulations-for-egp-200-bn-sovereign-wealth-fund\/\">reported in July<\/a> that a consortium of law firms \u2014 including Sarie-Eldin, PricewaterhouseCoopers, and Baker Mckenzie \u2014 had entered into an agreement with the government to advise on the establishment of the fund\u2019s framework and governing structure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Sisi ratifies cyber crimes, leasing and factoring acts: President Abdel Fattah El Sisi ratified last week the controversial Cyber Crimes Act, Ahram Online reported. The law stipulates that internet service providers hold user data and records of web activity \u2014 including voice calls and browsing history \u2014 for a period of 180 days, among [&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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625895","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f6c892d8-92af-4c45-8847-d7d0abb6dc9b","order":"0","is_powered_by":true,"section_story_id":"c61c9c37-409f-4d85-a23e-1c51551a0d75","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625883],"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>El Sisi ratifies Cyber Crimes Act, Leasing and Factoring 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\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi ratifies Cyber Crimes Act, Leasing and Factoring Act\" \/>\n<meta property=\"og:description\" content=\"El Sisi ratifies cyber crimes, leasing and factoring acts: President Abdel Fattah El Sisi ratified last week the controversial Cyber Crimes Act, Ahram Online reported. The law stipulates that internet service providers hold user data and records of web activity \u2014 including voice calls and browsing history \u2014 for a period of 180 days, among [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-26T04:12:03+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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Sisi ratifies Cyber Crimes Act, Leasing and Factoring Act\",\"datePublished\":\"2018-08-26T04:12:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\"},\"wordCount\":421,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\",\"name\":\"El Sisi ratifies Cyber Crimes Act, Leasing and Factoring Act - 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The legislation, which sets up a regulatory framework for factoring and leasing, had been amended by\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":596304,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/25\/el-sisi-ratifies-egypts-new-social-security-and-pensions-act\/","url_meta":{"origin":625895,"position":1},"title":"El Sisi ratifies Egypt\u2019s new Social Security and Pensions Act","author":"enterpriseam admin","date":"25 August 2019","format":false,"excerpt":"LEGISLATION WATCH- El Sisi ratifies Social Security and Pensions Act: President Abdel Fattah El Sisi has ratified the new Social Security and Pensions Act, Ahram Online reported. The new law, which was passed by parliament last month, will see 21% of public and private sector workers\u2019 salaries going towards a\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":596305,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/25\/el-sisi-ratifies-new-ngos-act\/","url_meta":{"origin":625895,"position":2},"title":"El Sisi ratifies new NGOs Act","author":"enterpriseam admin","date":"25 August 2019","format":false,"excerpt":"LEGISLATION WATCH- El Sisi ratifies new NGOs Act: President Abdel Fattah El Sisi has ratified the new NGOs Act, which regulates the work of Egypt\u2019s civil society sector, the local press reports. The law, which received House approval last month, replaces the controversial Law No. 70 of 2017, which generated\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":570246,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/el-sisi-ratifies-consumer-credit-act\/","url_meta":{"origin":625895,"position":3},"title":"El Sisi ratifies Consumer Credit Act","author":"enterpriseam admin","date":"24 March 2020","format":false,"excerpt":"El Sisi ratifies Consumer Credit Act: President Abdel Fattah El Sisi has ratified the Consumer Credit Act, the local press reports, carrying a copy of the bill. The legislation, which received House approval late last month, introduces a new regulatory framework for consumer finance companies governing business creation and operations,\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":595786,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/el-sisi-ratifies-amendments-to-investment-act\/","url_meta":{"origin":625895,"position":4},"title":"El Sisi ratifies amendments to Investment Act","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"LEGISLATION WATCH- El Sisi ratifies amendments to Investment Act: President Abdel Fattah El Sisi has ratified amendments to the Investment Act that allow expansions of existing investment projects to benefit from newly introduced incentives, according to an Investment Ministry statement. The amendments also require prospective business owners to obtain permission\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":595929,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/el-sisi-ratifies-mineral-resources-act-economic-court-act-amendments\/","url_meta":{"origin":625895,"position":5},"title":"El Sisi ratifies Mineral Resources Act, Economic Court Act amendments","author":"enterpriseam admin","date":"14 August 2019","format":false,"excerpt":"LEGISLATION WATCH- El Sisi ratifies key legislation: President Abdel Fattah El Sisi has ratified the Mineral Resources Act, which introduces additional incentives for companies to invest in the mining sector. The amendments expand the size of concession areas, grant a new authority the power to issue licenses for areas of\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\/625895","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=625895"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625895\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625883"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625895"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625895"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}