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ARTICLE · 17 JUNE 2019

Release Of Egypt's First Central Movable Collateral Registry

Riad & Riad Law Firm
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The Egyptian Financial Regulatory Authority ("FRA") announced the launch of the Egypt's first central movable collateral registry.

EgyptFinance and Banking
Fatma Salah
Fatma Salah
Sama Elbaradei
Sama Elbaradei

The Egyptian Financial Regulatory Authority ("FRA") announced the launch of the Egypt's first central movable collateral registry.

Egypt had its first Movable Collaterals Law on 15 November 2015 (Movable Collaterals Law no. 115/2015), and the Ministry of Investment passed the Executive Regulations On 15 December 2016.

The law introduced an overarching system for taking non-possessory security over diversified movable assets. It aims at facilitating access to credit through a well-defined legal regime that is in line with the international standards, such as those established by the United Nations Commission on International Trade Law (UNCITRAL) and by the World Bank.

What is a Central Movable Collateral Registry and what is its purpose?

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