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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
Ayman Nour and Youssef Salam from our Egypt office wrote an article titled ‘A Step in the Right Direction – Draft Data Protection Law in Egypt’ in the June – July 2019 edition of Al Tamimi’s magazine, Law Update, heralding the approval by the Cabinet of a draft data protection law in Egypt. Unfortunately, some news outlets have incorrectly reported that the law has been enacted, creating considerable confusion in the market. As highlighted in our article above, the law is currently in draft form as it must first be reviewed and promulgated by the Egyptian Parliament.
Our current understanding is that the Legislative Committee has already made some amendments to the draft law by removing penalties of imprisonment, however the authorities have not officially confirmed this. Also, it is quite possible that Parliament may make further changes to the draft law, though we expect its key principles will be preserved.
The draft law is expected to be enacted some time during the present parliamentary session that has just commenced. The draft law states that it will come into force three months from the date of its enactment, though in practice the law would not become fully applicable until the executive regulations are issued (the draft law contemplates that the executive regulations will be issued within six months of the enactment of the law itself).
Importantly, the draft law provides entities a grace period of one year to comply with its provisions.
Ayman Nour
Partner, Head of Office – Cairo
a.nour@tamimi.com
Martin Hayward
Head of Technology, Media & Telecommunications
m.hayward@tamimi.com
Haroun Khwaja
Senior Associate, Technology, Media & Telecommunications
h.khwaja@tamimi.com
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