Banking & Finance
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Banking & Finance
Our dedicated banking and finance team is highly regarded for excellence and broad experience in completing transactions efficiently and professionally.
Over the years, SH&P has established profound relationships with international and regional banks as well as financial institutions in both the public and private sectors. Today, we are entrusted by multiple lenders, borrowers and guarantors in the most complicated financing transactions. Our team regularly monitor the development and regulations proposed to be applied thereto for the effective representation and protection of our clients’ interests.
Banking
Notable Transactions
- Legal counsel to Vicat with respect to the regulations of foreign currency exchange control and repatriation of profits from Egypt.
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International Finance
Notable Transactions
- Legal counsel to VEB.RF with respect to a EUR 1,016,050,000 facility made available to the Government of Egypt.
- Legal counsel to Ansan Wikfs Limited on a Medium-Term Loan of USD 72 million by Arab African Int. Bank.
- Legal counsel to London Institute for Banking & Finance with respect to two (2) different MoUs with both the Central of Egypt and the Financial Regulatory Authority.
- Legal counsel to Agence Française De Développement, a leading governmental international fund, on a USD 175 million facility made available to the Arab Republic Of Egypt for the purpose of supporting the State’s Public Budget.
- Legal counsel to Proparco, a leading governmental international fund, on providing Tier 2 loans to CBK-registered banks.
- Legal counsel to a leading governmental international fund on a USD 75 million facility to be made available to a leading microfinance services provider in Egypt for the purpose of relending in the form of microfinance loans.
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Frequently Asked Questions
In order to enforce an arbitration award in Egypt, an enforcement order must be obtained by the competent Court of Appeal, providing that such arbitration award does not contravene the Egyptian public order or morality, and does not deal with rights over immovable properties located in Egypt, personal status or criminal issues.
In general, there is no restriction on foreign ownership of entities incorporated in Egypt except for limited cases such as entities: (i) undertake the activities of importation for the resale purpose , commercial agencies, and/or intermediary business; and, or (ii) are located or doing business in Sinai.
The Egyptian legal system is primarily based on the French civil legal system, various other European codes and religious law. In practice, religious law is applied only to personal status and family matters which are governed by the religious law of the individual concerned. The fundamental and organic law of Egypt is the Constitution thereof, which Constitution was passed in a referendum in January 2014 and amended in April 2019.
Generally, the Egyptian law does not recognize the concept of piercing the corporate veil, therefore, the liability of shareholders, in general, in Joint Stock Companies or allotment holders in Limited Liability Companies is only limited to the paid-up capital except in some limited cases.