The draft law, submitted to the Cabinet by Egyptian economist Sameh Sedqi last year, would amend Presidential Decree No. The deposit is yet to be determined by the Minister of Interior, but the proposed amount in the draft bill is $5,000, Kedwany said. Head of the Economic Committee MP Ahmed Farghali, however, had concerns about national security if this law is to be applied. MP Alaa Abdel-Moneim of the 'For the Love of Egypt' bloc also rejected the draft law. MP Moataz Mahmoud, chairman of the Freedom Party, supports the draft law and says that similar procedures are viable in several other countries.

Source: Egypt Independent May 04, 2017 09:45 UTC