House approves amendment to agreement signed with IITFC to up credit ceiling

The House of Representatives approved during a session under speaker Hanafi El Gebali on Tuesday presidential decree no. 299 of 2022 on the amendment no. 1 of a framework agreement signed between the Arab Republic of Egypt and the International Islamic Trade Finance Corporation (IITFC).

The agreement which was signed in January 2018 includes the amendment of the credit ceiling signed on June 3, 2022 in Sharm el-Sheikh, to be 6 billion dollars instead of $3 billion.

However, it finally approved a draft law presented by the government on amending some of the provisions of Law No. 10 of 2003 regulating telecommunications.

In October, the House of Representatives referred the bill to a joint committee grouping the Constitutional and Legislative Affairs Committee and the office of the Communications and Information Technology Committee.

The bill introduced amendments to the penalties imposed on violators of some of provisions of the telecommunication regulation law.

Under Article 44 of the law, it is prohibited to import, manufacture or assemble any Telecommunication Equipment without a license from the National Telecom Regulatory Authority (NTRA) according to the standards and specifications approved by it.

As per Article 77, penalties for unlicensed Obtainment of Telecommunication Equipment Subject to the provision of the last clause in article (48) of this law, a penalty of confinement to prison for a period of not less than one year and not more than five years and a fine of not less than 2 million pounds and not exceeding 5 million pounds or either penalty shall be inflicted on whoever carries out any of the following deeds without obtaining a permit therefor from the competent authorities:

1. Importing or manufacturing any of the Telecommunication Equipment for the purpose of marketing in the country.
2. Possessing, installing, or operating any radio Telecommunication Set. This penalty shall not apply in the case of radio sets for which the NTRA issues a
General License permitting the use, assembly, or operation of such sets, subject to the provisions of article (44) of this law.

The Law was published in the official gazette on Tuesday.