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Overview of Regulatory Environment |
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Institutions providing microfinance services in Egypt include banks and non-governmental organizations (NGO-MFIs), as well as the National Postal Authority and informal institutions such as rotating savings and credit associations (ROSCAs). Banks are regulated by the Central Bank of Egypt (CBE). The Egyptian Financial Services Authority (EFSA), a regulatory authority created in 2009 under the Law for the Regulation of Non-Banking Financial Markets and Instruments (the "Single Regulator Law"), regulates securities markets and non-bank financial institutions. NGO-MFIs are overseen by the Ministry of Social Solidarity (MSS). A draft microfinance law expected to be passed in 2010 will create a new category of non-banking financial institution (microfinance companies or MFCs) and facilitate commercial microlending under the regulation of the EFSA. |
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Read this INFORMATIVE PROFILE of the legal and regulatory environment for microfinance in Egypt from the Comparative Database on Regulation and Supervision. |
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Financial & Other Regulators |
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| Central Bank of Egypt (CBE) | ||
| Egyptian Financial Services Authority (EFSA) | ||
| Ministry of Social Solidarity (MSS) | ||
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Recommended Reading |
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Regulation and Supervision of Microfinance in Egypt Moussa, M. Essays on Regulation and Supervision No. 21 (2007) |
| » | Legal and Regulatory Environment for Microfinance in Egypt USAID/Egypt Microenterprise Finance (2009) |
| » | Egypt Financial Sector Assessment United Nations Advisors Group on Inclusive Financial Sectors (2008) |
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| Law of the Central Bank, the Banking Sector, and Money (Law No. 88 of 2003) | ||
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Law for the Regulation of Non-Banking Financial Markets and Instruments (Law No. 10 of 2009) |
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| Law on Development of Small Enterprises (Law No. 141 of 2004) | ||
| Law on Non-Governmental Organizations (Law No. 84 of 2002) | ||
| Executive Regulations of the Law of the Central Bank, Banking Sector, and Money | ||
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| Enterprise Survey: Egypt Snapshot of how firms view the effect of economic and regulatory policies on growth, productivity and efficiency (World Bank/International Finance Corporation) |
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| FIRST Information Exchange: Egypt Individual country information on financial sector donor projects, a brief description of the financial sector, and links to financial sector reports and diagnostics from international organizations. (Financial Sector Reform and Strengthening Initiative) |
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