{"id":628790,"date":"2018-05-14T04:10:12","date_gmt":"2018-05-14T04:10:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/finance-ministry-working-on-law-to-ease-transition-to-cashless-economy\/"},"modified":"2018-05-14T04:10:12","modified_gmt":"2018-05-14T04:10:12","slug":"finance-ministry-working-on-law-to-ease-transition-to-cashless-economy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/finance-ministry-working-on-law-to-ease-transition-to-cashless-economy\/","title":{"rendered":"Finance Ministry working on law to ease transition to cashless economy"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- Finance Ministry working on law to ease transition to cashless economy:<\/strong> The Finance Ministry and central bank are working together to draft legislation to help ease the the state with its goal to transition to a cashless economy, government sources reportedly said yesterday<\/a>. The law, which could go into effect during FY2018-19, would set limits on the amount of cash that government agencies can receive or pay in a single transaction. A suggestion currently under study sets a ceiling of EGP 20,000 per transaction, according to the sources. The government has been taking steps to gradually decrease the rate of cash transactions, based on a number of resolutions adopted during a National Payments Council meeting last year<\/a>, which included drafting legislation to govern non-cash payments and transactions, developing a strategy for e-governance, and making e-payment options available<\/a> to public sector employees. The move is part of the state\u2019s wider financial inclusion strategy.<\/p>\n

In other legislative news yesterday, the House of Representatives gave a preliminary nod to the law establishing the <\/strong>Upper Egypt Development Authority<\/strong><\/a>, as well as that governing clinical trials<\/strong><\/a>.<\/p>\n

Laws on public surveillance, road management recalled from House: <\/strong>House Speaker Ali Abdel Aal also announced that the Ismail Cabinet has recalled two pieces of legislation it had sent to Parliament for review, including one on public surveillance and another on road network management, saying that both are covered by other, existing laws, Al Masry Al Youm reports<\/a>.<\/p>\n

Also yesterday: The House Housing Committee resumed its review of a temporary law to settle building code violations<\/strong>, Al Shorouk reports<\/a>. Members of the committee disagreed over Article 1 of the legislation, which would not allow settlements for buildings erected on agricultural land. Some suggested including exceptions for land in new urban communities, but the committee ultimately did not reach consensus on the issue. It remains unclear why the committee is currently discussing the legislation, after having agreed in February<\/a> that it cannot pass without amendments to the Unified Building Code. Both laws would have to pass together as they are too closely intertwined, the committee said at the time.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Finance Ministry working on law to ease transition to cashless economy: The Finance Ministry and central bank are working together to draft legislation to help ease the the state with its goal to transition to a cashless economy, government sources reportedly said yesterday. 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The amendments aim to bring\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":626522,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/04\/planning-ministry-prepares-first-draft-of-legislation-regulating-electronic-payments\/","url_meta":{"origin":628790,"position":1},"title":"Planning Ministry prepares first draft of legislation regulating electronic payments","author":"enterpriseam admin","date":"4 July 2018","format":false,"excerpt":"LEGISLATION WATCH- Planning Ministry has finished drafting legislation to encourage non-cash payments: The Planning Ministry has completed the first draft of a law governing non-cash payments that means to encourage Egypt\u2019s transition to a cashless economy, said Minister Hala El Said. The Planning Ministry consulted the finance and justice ministries\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":600849,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/egypts-house-committee-gives-preliminary-nod-to-e-payments-act\/","url_meta":{"origin":628790,"position":2},"title":"Egypt\u2019s House committee gives preliminary nod to E-payments Act","author":"enterpriseam admin","date":"12 February 2019","format":false,"excerpt":"LEGISLATION WATCH- House committee gives preliminary nod to E-payments Act: The House of Representatives\u2019 Economic Committee has preliminarily approved the final draft of the E-payments Act, according to reports in the local press. The House general assembly is kick the tires of the final bill \u2014 which seeks to guide\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\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601006,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/finmin-completes-draft-law-on-egypts-new-tax-procedures-electronic-filing-system\/","url_meta":{"origin":628790,"position":3},"title":"FinMin completes draft law on Egypt\u2019s new tax procedures, electronic filing system","author":"enterpriseam admin","date":"17 February 2019","format":false,"excerpt":"LEGISLATION WATCH- FinMin completes draft law on new tax procedures, electronic tax filing: The Finance Ministry has finished drafting proposed legislation on new unified tax procedures and an electronic tax filing system, according to a ministry statement. The ministry placed the draft up on its website to invite public comment\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":601854,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/12\/egypt-parliament-approves-e-payments-act\/","url_meta":{"origin":628790,"position":4},"title":"Egypt parliament approves E-Payments Act","author":"enterpriseam admin","date":"12 March 2019","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives\u2019 general assembly approved the E-Payments Act yesterday, Al Shorouk reports. The law drafted by the CBE makes it mandatory for government and private sector entities to make all payments to subsidiaries, suppliers, and contractors electronically. The bill also demands electronic payment for big-ticket items\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":634555,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/17\/feb-fei-thebes-consultancy-draft-legislation-to-transition-to-a-cashless-economy\/","url_meta":{"origin":628790,"position":5},"title":"FEB, FEI, Thebes Consultancy draft legislation to transition to a cashless economy","author":"enterpriseam admin","date":"17 January 2018","format":false,"excerpt":"The Federation of Egyptian Banks (FEB) and the Federation of Egyptian Industries (FEI) are drafting legislation to help Egypt\u2019s transition away from cash dependency, Thebes Consultancy Managing Director Ziad Bahaa El Din announced yesterday, Al Mal reports. Speaking at the FEB\u2019s second annual conference on moving towards a cashless economy,\u2026","rel":"","context":"In "Legislation + Policy"","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"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\/628790","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=628790"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628790\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628771"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628790"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628790"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}