Egypt Law No. 1/2021 Sovereign Sukuk Law

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In the Name of the People

The President of the Republic

The Egyptian House of Representatives issued the following Law and it is hereby enacted:

Article 1

The provisions of the attached Sovereign Sukuk Law shall come into force. The sovereign sukuk shall not be subject to the provisions of any other law that contravenes the provisions hereof.

Article 2

The Prime Minister shall issue the Executive Regulation of the attached Law within three months from the date of coming into force of this Law, based on the proposition of the Minister of Finance, having consulted with Al Azhar Al Shareef and the Financial Regulatory Authority (FRA).

Article 3

This Law shall be published in the Official Gazette and shall come into force from the day following the date of publication.

This Law shall receive the seal of the State and shall be enforced as one of the State’s laws.

Chapter 1 - General Provisions

Article 1

In application of the provisions of this Law, the following words and phrases shall have the meanings assigned to them respectively:

  • Issuer: Ministry of Finance.