EFSA is preparing to create the first electronic record of movable guarantees

Sherif Samy, President of EFSA, explained that the law stipulates that EFSA is the only competent authority to establish a public electronic record to disclose guarantees and to bring any amendments or cancel

them, and that this process of research for the record is under .the responsibility of one of the specialized companies under its supervision
He added that the Authority intends to collaborate with a company in this regard to ensure the highest degree of technical precisionAmong the most important conditions that would have to be available in the company that can qualify to present an offer is to be registered legally as an Egyptian joint stock company, to have minimum 70% of its share capital owned by legal entities, to have the experience of at least three years in the field of information systems management and operation and have in place appropriate financial solvency. For more details about this news available in Arabic, please click here.