Translation of Law No. 18 of 2020
This translation of law No. 18 of 2020 provides a comprehensive overview of the legal framework governing consumer finance activities in Egypt, as issued by the House of Representatives and promulgated by the President of the Republic. The law establishes the regulatory foundation for companies operating in the consumer finance sector, defining key concepts, scope of application, and the roles of supervisory authorities.
As a translation of the consumer finance regulation law, this document outlines the conditions under which consumer finance activities may be conducted, including licensing requirements, operational controls, and compliance obligations. It also clarifies the distinction between entities subject to this law and those regulated under other financial frameworks, such as banking activities supervised by the Central Bank of Egypt.
This English version of the consumer finance regulation law further details the governance standards applicable to consumer finance companies and providers, including capital requirements, reporting obligations, and consumer protection measures. It highlights the role of the Financial Regulatory Authority in overseeing the sector, ensuring transparency, and maintaining market stability.
In addition, the translation of law No. 18 of 2020 addresses enforcement mechanisms, dispute resolution, and penalties for non-compliance, offering a clear understanding of the legal consequences associated with violations. This translation of the consumer finance regulation law serves as a practical reference for stakeholders seeking to understand the regulatory environment and operate in alignment with Egyptian laws.
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