Egypt’s President Abdel Fattah Al-Sisi ratified several laws, on Wednesday, toughening sexual harassment penalties and establishing the Medical Emergency Response Fund. Al-Sisi also ratified Law No. 138 of 2021 for issuing sovereign sukuk.
The new amendment stipulates that anyone who commits indecent exposure or sexual harassment in a public or private place, whether by gesture, word, or deed, by any means, including the use of electronic communications, and social media will be subject to a penalty of imprisonment for a period of no less than two years and not exceeding four years and a fine of no less than EGP 100,000 and not more than EGP 200,000 or one of these two penalties.
If the act is repeated by the offender during the pursuit, the penalty shall be imprisonment for a period of no less than three years and not exceeding five years and a fine of no less than EGP 200,000 and not more than EGP 300,000, or either of these two penalties.
Meanwhile, the Sovereign Sukuk Law aims to finance economic and development projects included in the economic and social development plan of the state’s general budget.
The law comes within the framework of the government’s endeavor to develop new mechanisms and means to finance the state’s budget deficit, and to diversify sources of funding. By introducing new products to the debt instruments market and developing its mechanisms, in a way that stimulates the demand for government issuances of securities and debt instruments that are issued in local and foreign currencies.
The President also ratified Law No. 139 of 2021 establishing the Medical Emergency Response Fund.
The Fund will help in establishing a method to sustain financing services provided by the Ministry of Health towards citizens regarding prevention, treatment, and ending waiting lists for patients.
It also supports purchasing medicines and providing funding relief for major accidents, emergencies, intensive care, premature children, and burns.
