In the Name of the People,
President of the Republic
The House of Representatives hereby decrees the following Law, and we issue as follows:
(Article 1)
Without prejudice to the provisions of the Central Bank and Banking System Law promulgated by Law No. 194 of 2020, the provisions of the accompanying law shall apply to Non-Banking Financial Activities practitioners using financial technology.
(Article 2)
Where there is no special provision in the accompanying law, the provisions of the Law on Joint Stock Companies, Partnerships Limited by Shares, Limited Liability Companies, and Sole Individual Companies promulgated by Law No. 159 of 1981, and the provisions of laws regulating Non-Banking Financial Activities shall apply given the circumstances of each case.
(Article 3)
Except for disputes and lawsuits that are specifically required to be considered for referral by the State Council, the Economic Courts shall have jurisdiction to adjudicate in disputes and lawsuits arising from the application of the provisions of the accompanied law.
(Article 4)
Those who are addressed by the provisions of the accompanying law are obliged to reconcile, in accordance with these provisions, within six months from the date of issuance of the decrees implementing them.
(Article 5)
The Board of Directors of the Financial Regulatory Authority may, by virtue of a decree, extend the period for reconciling stipulated by the above paragraph for a period, or other similar periods, not exceeding a total of two years.
It is permissible, by decree of the Prime Minister, based on a proposal from the President of the Financial Regulatory Authority, to extend the reconciliation period for another two years.
(Article 6)
This law shall be published in the Official Gazette and shall come into force on the day following the date of its publication. This law shall be stamped with the State Seal and shall be implemented as law.
Abdelfattah El-Sisi
