Egypt

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Catalyst Partners in connection with the commencement of trading of Egypt’s first Special Purpose Acquisition Company (“SPAC”), Catalyst Partners Middle East (“CPME”), on the Egyptian Stock Exchange. The launch of CPME follows the completion of a series of strategic acquisitions, resulting in a combined issued capital of approximately EGP 3 billion. CPME commenced trading at levels above its nominal value, marking a significant milestone for the Egyptian capital markets and reinforcing the role of SPACs as an alternative vehicle for growth and acquisitions, particularly in the non-banking financial services and financial technology sectors. MBH advised on the transaction through its final stages, supporting Catalyst Partners in achieving this landmark listing within Egypt’s evolving regulatory framework. The MBH team advising on the transaction was led by Mohamed Abdel Fattah (Partner and Head of Capital Markets) and also included Mohamed Galal (Counsel) and Khaled Abdelwahab (Senior Associate). MBH is proud to have supported Catalyst Partners through this milestone and to have been part of the journey leading to the successful launch of Egypt’s first SPAC. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/.

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Tasaheel for Financing S.A.E. (“Tasaheel”) in connection with an EGP 3,520,500,000 (* Egyptian Pounds) securitization transaction. This transaction represents the fourth issuance of Capital’s Twelfth securitization program amounting to an aggregate of EGP 20,000,000,000 (twenty billion Egyptian Pounds), The MBH team advising on the securitization was led by Mohamed Abdel Fattah (Partner and Head of Capital Markets), Imane Raouf (Partner), and included Abdel Reheem Ashraf (Senior Associate), Mariam Goubran (Associate) and Ahmed Ayman (Associate). Al Ahly Pharos was also involved in the transaction as the financial advisor, Baker Tilly as the Auditor, Capital Securitization Company as the Securitization Company, Middle East Rating & Investors Service (“MERIS”) as the rating agency. We would like to extend our gratitude to all the stakeholders involved and our dedicated team whose hard work and commitment made this transaction possible. This landmark deal is a testament to our commitment to fostering innovation in the financial sector and advancing economic development. As we move forward, we remain committed to supporting the growth of microfinance in Egypt and contributing to the empowerment of communities through access to much-needed financial resources. For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/  

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Tamweely Financial Services in connection with an EGP 1,155,000,000 securitization transaction. The securitized portfolio consisted of microfinance contracts, representing the second issuance of AlAhly’s fifth securitization program, which has an aggregate value of EGP 5,000,000,000. This transaction marks another milestone in Tamweely Financial Services’ efforts to enhance liquidity and support the growth of the microfinance sector in Egypt. The MBH team advising on the securitization was led by Mohamed Abdel Fattah (Partner and Head of Capital Markets) and Imane Raouf (Partner), and included Abdel Reheem Ashraf (Senior Associate), Mariam Goubran (Associate), and Ahmed Ayman (Associate). Al Ahly Pharos acted as the financial advisor, Baker Tilly as the auditor, Al Ahly for Securitization as the securitization company, and Middle East Rating & Investors Service (“MERIS”) as the rating agency. We would like to extend our gratitude to all stakeholders involved and our dedicated team, whose hard work and commitment made this transaction possible. This landmark deal highlights our commitment to fostering innovation in the financial sector and supporting the growth of the microfinance sector in Egypt. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/.

We are pleased to announce that Matouk Bassiouny has successfully obtained a significant costs judgment before the Abu Dhabi Global Market (ADGM) Court of First Instance in the first UAE ruling addressing wasted costs arising from the misuse of artificial intelligence (“AI”) in court documents. The Court ordered the opposing law firm to pay our client’s wasted costs of AED 282,508 on an indemnity basis, with the Defendant separately ordered to pay AED 245,000 in costs. The judgment criticised the filing of pleadings relying on non-existent or misapplied authorities, and confirmed that failure to verify AI-generated research before filing was “reckless” and “amounted to a breach of the Rules of Conduct” (para 59). The team advising on this case was led by Ahmed Tony (Partner), supported by Youssef Nassar (Senior Associate) and Alia Elraey (Associate), together with Counsel Sajid Suleman of Outer Temple Chambers. Commenting on the judgment, Ahmed Tony said: “This ruling sends a clear message that AI is a powerful tool, but it does not replace the lawyer’s fundamental duty to verify research and ensure accuracy in court filings. Our firm embraces AI tools to enhance efficiency and deliver better outcomes for our clients. However, we recognise that these tools must be used responsibly, with appropriate oversight and verification.” Led by Founding Partner and Group Head of Dispute Resolution, John Matouk, our International Dispute Resolution team brings extensive experience in representing clients before the ADGM and DIFC Courts in the UAE. Our team is common law qualified, with Ahmed Tony admitted in England and Wales, Youssef Nassar (Senior Associate) in New York, and Alia Elraey (Associate) in England and Wales. As part of our commitment to providing comprehensive legal services, we collaborate with specialist barristers to ensure our clients receive the highest quality representation throughout the litigation process. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/. Case Reference: [2025] ADGMCFI 0032.