Prime Minister issues statute of Egypt’s arbitration centre for non-banking financial disputes
Published 16 Dec,2020 via Daily News Egypt - Egypt’s Prime Minister Mostafa Madbouly issued, on Wednesday, Decree No. 2,597 of 2020 regarding the statute of the Egyptian Center for Voluntary Arbitration and Settlement of Non-Banking Financial Disputes.
The statute included an integrated work mechanism to activate Article 10 of the Law 10 of 2009 Regulating Non-banking Financial Markets and Instrument.
“Subject to a Presidential Decree, there shall be established a centre for arbitration and settlement of disputes – with an independent legal personality – arising from the application of the provisions of non-banking transactions laws. The parties to any dispute may recourse to the Centre if they agree to settle that dispute through arbitration, either initially or at a later stage subject to the provisions of the Egyptian laws regulating arbitration and dispute settlement,” Article 10 read.
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Daily News Egypt