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Doing Business in Egypt
Financial Sector Liberalization Capital Market Legislation
Insurance Legislation Money Laundering Law
Banking Legislation Mortgage Law

Financial Sector Liberalization

Since the early nineties, the Egyptian financial system with its three main sectors: the capital market, banking and insurance, has been undergoing ambitious legislative reforms to enhance performance and encourage competition especially from the private sector. Since 1993, the government has stopped intervening directly in the financial sector, and instead has been using indirect measures to control monetary aggregates such as bond issues. The government is currently focusing on reactivating the bond market, creating new financial institutions and building strategic links with international financial institutions.

Serious efforts are also being done to divest state ownership of joint venture and public banks and insurance companies, and increase private sector involvement in the financial sector.

Full private sector ownership, including foreign ownership, has been allowed in the banking and insurance sectors. Thereby, several financial intermediaries representing large international financial institutions in the areas of commercial and investment banking, mutual funds, insurance and securities trading are now operating in Egypt. The recent enactment of the mortgage law is also expected to bring liquidity to the market and enhance the retail-banking sector.

The American Chamber Of Commerce In Egypt Inc.
8000 Towers Crescent Drive
Suite 1350
Vienna, VA 22182
Tel: +1 (703) 760-7888