In 2015, Egypt passed the Movable Collaterals Law No. 115/2015. It came into force in February 2016. This reform is in line with the UNCITRAL model law. The law created a unified system for non-possessory security interests over a wide range of movable assets, focusing upon non-possessory pledges and charges over movable property. Other assets that can be used as collateral include future physical assets or moral rights. Moral rights include everything from receivables and credit notes, to farm animals, to intellectual property rights. Law No. 115/2015 also called for the creation of a central movable collateral registry. The registry went live in 2018.

 

Links

• Act in Arabic HTML Version: http://www.fra.gov.eg/content/efsa_en/efsa_pages_en/laws_efsa_en.htm
• Act in Arabic PDF Version: http://www.fra.gov.eg/content/efsa_en/laws_efsa_en/damanat%20mankola_en.htm
• Online Registry: https://www.ecr.gov.eg/
• Further Reading Regarding Law Reform
  • https://www.irglobal.com/article/movables-securities-law-1fd7
  • https://www.tamimi.com/law-update-articles/egypt-introduces-for-the-first-time-a-secured-transactions-law/#:~:text=On%20November%2015%2C%202015%2C%20Egypt,of%20secured%20transactions%20in%20Egypt.
  • https://eldib.com/news/important-announcement-regarding-egyptian-law-no-115-of-year-2015-regulating-movable-securities/
• Further Reading Regarding Registry:
  • http://www.riad-riad.com/en/publications/release-egypts-first-central-movable-collateral-registry

 

Last Checked August 2020

If you have any questions or would like to suggest an update please email magda.raczynska@ucl.ac.uk