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English news

21-May-2018

Parliament Legislative Committee removes mediation clauses from Economic Courts Act

The Parliament’s Constitutional and Legislative Committee removed clauses related to the mediation of disputes from the Economic Courts Act, according to MP Khaled Hanafy. Members of the committee agreed that mediating and settling disputes require separate legislation. The act would allow economic courts to handle consumer protection-related cases and look to expedite the dispute resolution process. It would also grant economic courts the jurisdiction over criminal violations of the Capital Markets Act. The Council of State had raised objections to what it saw as a lack of input from ministries and government agencies that are affected by the law, including the CBE, Financial Regulatory Authority and Finance Ministry. 

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