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Senate approves Companies Law report to the President
The Egyptian Senate approved referring the legislative impact study report of the Companies Law to the President of the Republic. The report, prepared by the Committee on Financial, Economic, and Investment Affairs, highlighted the need to update Law No. 159 of 1981 on Companies, after more than 44 years since its issuance, in order to keep pace with economic and technological developments. The study pointed out challenges such as the lengthy process of verifying in-kind contributions, weak financial auditing standards, restrictions on stock trading, insufficient disclosure rules, as well as the need to strengthen governance, expand financial transparency, and modernize oversight mechanisms. The aim is to improve the investment climate and increase the efficiency and transparency of companies in the Egyptian market. It was proposed to amend seven articles and create two new ones to enhance companies’ ability to restructure and improve the business environment.
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