Sisi amends law on investment certificates of Suez Canal
President Abdel Fattah al-Sisi
Cairo - MENA
President Abdel Fattah El Sisi issued a decree-law on the investment certificates of the Suez Canal development project, presidential spokesman ambassador Alaa Yousef said.
The amendment crystallizes the legal framework for the work of the Suez Canal Authority, Yousef said.
According to the first article of the law, the Suez Canal authority, with the guarantee of the public treasury and cabinet, assigns the National Bank of Egypt, Banque Du Caire and Suez Canal Bank to issue multi-category investment certificates to be used in developing the utilities of the canal.
The value of the certificates and their returns will be deposited in the account of the authority at the central Bank of Egypt, the article said.
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