Egypt Financial Regulatory Authority to seek ECAS bylaw changes allowing expedited and electronic arbitration for non-banking financial disputes

The Egypt Financial Regulatory Authority’s chair, Mohamed Farid, used the opening of the first Egyptian Arbitration Day (EGYAD) to signal planned changes to the dispute-resolution framework for non-banking financial activities, including a proposal to amend the Egyptian Center for Voluntary Arbitration and Settlement of Non-Banking Financial Disputes (ECAS) statute to permit expedited arbitration and electronic arbitration to speed decisions and enable digital, secure settlements. Farid linked voluntary mediation and faster dispute resolution to stronger confidence and stability in non-banking financial markets, and pointed to expanding activity and recent market-development steps, including changes to the derivatives market and the launch of a voluntary market for issuing and trading carbon certificates, as increasing the need for a specialised arbitration mechanism. He described ECAS, established under Presidential Decree No. 335 of 2019 to activate Article 10 of Law No. 10 of 2009, as providing confidential, rapid and expert services supported by a roster of specialised arbitrators. The event also featured remarks from Justice Minister Adnan Fangari on building a stable legal environment for investment, and from ECAS Executive Director Marianne Qaldes on raising awareness of voluntary arbitration and positioning Egypt as a regional hub for financial-sector dispute resolution.