Sinai companies allowed to trade in stock market without prior clearance

The Administrative Court has ruled on the the right for companies established in Sinai, or with assets based in the peninsula, before 2005 to trade their stocks at the Egyptian Exchange without the need for prior permission from the General Authority for Investment.
The ruling came after Nabaq Sinai for Hotels brought the lawsuit against GAFI and the Egyptian Exchange, which had denied its request for stock market enrollment based on the 1981 law -amended in 2005- which required prior clearance from GAFI before enlisting Sinai-based companies.

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