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A Framework for Housing Policy Reform in Urban Areas in Egypt : Developing a Well Functioning Housing System and Strengthening the National Housing Program

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Relevância na Pesquisa
85.91%
This document builds upon several recent studies and reports carried out in the 2006-2007 period. The first note, entitled analysis of housing supply mechanisms (World Bank), analyzes the situation of housing supply in urban areas in Egypt, including the study of existing formal and informal mechanisms for the delivery of urban housing, the institutions responsible for supply and regulation, the characteristics of the formal and informal stock, and the institutional and regulatory framework governing land use planning and development. The second is a housing demand study in Greater Cairo (USAID TAPRII), which uses household data surveyed in December 2006 and yields results on the housing demand and household characteristics in the Greater Cairo Region. The third is an analysis of subsidized housing programs (USAID TAPRII), which assesses past, existing and pipeline subsidy programs in Egypt. International Best Practices were presented at a high-level workshop held in April 2007 with the intent of assessing different schemes of housing subsidies and reforms used in other emerging markets...

Middle East and North Africa Economic Developments and Prospects, October 2012 : Looking Ahead After a Year in Transition

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
55.85%
The Arab Republic of Egypt, Tunisia, Libya and the Republic of Yemen are recovering after a period of economic growth decelerations accompanying the Arab Spring uprisings of 2011. Economic recovery was relatively quick, with industrial production recovering in a matter of months and, in the cases of Egypt and Tunisia, the growth dips of 2011 were smaller than the average growth declines observed around the year of transition during past transitions to democracy. Importantly, the growth decelerations and recovery have taken place in a weak global environment, with events in the Euro zone posing particular challenges to Tunisia, and to a lesser extent, Egypt. The report focuses on the economic developments and short-term outlook for four Middle East and North Africa (MENA) Economies, Tunisia, Egypt, the Republic of Yemen and Libya. These four countries are given special attention because each of them experienced a revolution and a major political change in 2011 and is undergoing a process of political transition toward democracy. The sudden change had important economic consequences. While other countries in the Middle East and North Africa are undergoing political change, the economic ramifications were muted as compared with the changes observed in the four MENA post-revolutionary economies.

Arab Republic of Egypt : Detailed Assessment Report on Anti-Money Laundering and Combatting the Financing of Terrorism

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
75.95%
This assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of the Arab Republic of Egypt (Egypt) is based on the Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF), andwas prepared using the AML/CFT assessment Methodology 2004, as updated in February 2008. The assessment team considered all the materials supplied by the authorities, the information obtained on site during their mission from 12 to 26 October 2008, and other verifiable information subsequently provided by the authorities. During the mission, the assessment team met with officials and representatives of all relevant government agencies and the private sector. A list of the bodies met is set out in Annex 1 to the detailed assessment report. The assessment was conducted by a team of assessors composed of staff of the World Bank and two experts acting under the supervision of the World Bank. The evaluation team consisted of: Latifah Merican Cheong (Team leader); Cedric Mousset (co-team leader and financial expert)...

Egypt, Arab Republic : Accounting and Auditing

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
75.9%
During the past decade, Egypt made significant efforts to align corporate financial reporting requirements with the International Accounting Standards (IAS) and to close the compliance gap in both accounting and auditing practices. Consequently, important improvements have been achieved in accounting and disclosure requirements for the publicly traded companies and financial institutions and in Egyptian Accounting Standards as benchmarked against IAS. Moreover, a new Accounting Practice Law has been drafted and agreed upon by all stakeholders, though not yet been ratified. Further improvements could be achieved by issuing a modern legislative framework that includes an appropriate regulatory framework for practicing auditors, addressing weaknesses in professional education and training arrangements, introducing qualification examinations for auditor licensing, and developing an enforcement mechanism to ensure compliance with applicable accounting and auditing standards.

Regulating Islamic Financial Institutions: The Nature of the Regulated

El-Hawary, Dahlia; Grais, Wafik; Iqbal, Zamir
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
EN_US
Relevância na Pesquisa
75.7%
More than 200 Islamic financial institutions (IFIs) operate in 48 countries. Their combined assets exceed $200 billion, with an annual growth rate between 12 percent and 15 percent. The regulatory regime governing IFIs varies significantly across countries. A number of international organizations have been established with the mandate to set standards that would strengthen and harmonize prudential regulations as they apply to IFIs. The authors contribute to the discussion on the nature of prudential standards to be developed. They clarify the risks that IFIs are exposed to and the type of regulations that are needed to systematically manage them. They consider that the industry is still in a development process whose eventual outcome is the convergence of the practice of Islamic financial intermediation with its conceptual foundations. The authors contrast the risks and regulations needed in the case of Islamic financial intermediation operating according to core principles and current practice. They outline implications for approaches to capital adequacy...

Egyptian Private Enterprises in the Aftermath of the Revolution : An Investment Climate Update

Stone, Andrew; Badawy, Lina; Dabidian, Hooman
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
55.79%
The January 25th revolution is an enormously important political event for Egypt, but attention to its economic consequences is also vital. The Egyptian revolution reflected a popular movement in favor of dramatic changes in the way citizens were governed and the way resources and opportunities were distributed in society. Expectations were extremely high, especially among the youth, for a new era of a more responsive government and an economy that offered employment, more inclusive growth and stability. Prior to the revolution, Egypt had high unemployment rates. The unemployment rate for 15 to 24-year-olds in particular was estimated at 33 percent. It also points to the need for improved competition in financial services, and competitive forces more generally, to address the needs of fast-growing Small and Medium Enterprises (SMEs).

Egypt : Economic Monitoring Note, Spring 2013

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
55.77%
The political situation in Egypt remains highly volatile and uncertain. The political environment is highly fragmented with increasing polarization between the Muslim brotherhood and other less organized factions that include secular and liberal parties as well as supporters of the former regime. At the same time, confrontations between the authorities and the judiciary continue to resurface. Following the controversial assumption of temporary exceptional powers, the president pushed forward a referendum on the new constitution in December which was approved by a small majority but with a low voter turnout. New Parliamentary elections were called in late February to begin in late April, but the election law was subsequently challenged in the courts. This will likely delay elections until August. Meanwhile, the key opposition parties have declared that they will boycott the elections.

Corporate Governance Country Assessment : Arab Republic of Egypt

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Corporate Governance Assessment (ROSC); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
65.6%
Egypt's corporate governance system is framed by French civil law for corporations. Sharia law has no direct influence on corporate governance. Anglo-American influence is prevalent in the securities depository law and the new capital markets law shortly to be introduced to Parliament. There is one stock exchange with two trading floors: The Cairo and Alexandria Stock Exchange (CASE) which has three tiers. Eighty seven percent of listed companies are trading on the second or third tier (unofficial exchange). Interest in corporate governance is rising - the draft capital markets law includes a chapter on minority shareholders rights. This Report on the Observance of Standards and Codes benchmarks the Egyptian corporate governance system against the OECD Principles of Corporate Governance; according to the Financial Stability Forum, one of the twelve core standards underpinning the international financial architecture. The assessment highlights a number of areas where Egypt's corporate governance system needs strengthening. These can be grouped under six headings: disclosure of ownership and control structures; disclosure of financial and non-financial information; training and capacity building for regulators and the private sector; role and effectiveness of shareholders' meetings; practices of boards of directors; and...

Egypt : Social and Structural Review

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Pre-2003 Economic or Sector Report; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
55.81%
A social and structural review (SSR) identifies the strategic policy priorities that are likely to yield the highest returns in terms of poverty reduction and development. This SSR identifies those priorities by providing a systematic evaluation of economic policy and structure in order to identify a) the main constraints on poverty reduction and long run development in Egypt and b) the sources of vulnerability, particularly as Egypt considers further global integration through entering into foreign trade agreements. The five priorities for reform include: 1) In order to maintain Egypt's robust economic performance of the late 1990s, the Government will need to continue to maintain stability of the macroeconomic environment by strengthening economic management which may have been pushed off-course by exogenous shocks in the latter half of the 1990s. 2) Trade liberalization remains as an unfinished and critical area for further reform. By sharply reducing tariffs and other trade taxes, especially on manufactures...

The Role of Postal Networks in Expanding Access to Financial Services : Country Case - Egypt's Postal Finance Services

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
75.76%
This paper discusses the role of the postal network in expanding access to financial services in Egypt. It reviews the public postal operator within the postal sector and within the broader context of the communications sector. The roles of the postal network and state and privately-owned banks are also reviewed from the perspective of the financial sector development, with particular focus on payments systems development and microfinance. The ultimate goal of postal reform is to create a system where modern technology and a free flow of information benefit the customer. A modern, efficient postal service that utilizes the latest information technology will not only increase Egypt's social and economic development, but will also contribute significantly to the creation of an Egyptian information society.

Egypt - Development Policy Review

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Development Policy Review (DPR); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
55.81%
This development policy review finds ample evidence that Egypt has prospered as a consequence of giving the economy a greater market orientation. While favorable global conditions have helped, the structural changes over the last two decades have been an essential ingredient for Egypt's success. Productivity has risen more in segments of the economy where the private sector s share in investment and output grew most. Empirical estimates done for this report suggest that each dollar of private investment contributed four times more to output than a dollar of public investment, reflecting in part the poor choice and maintenance of public investment. Consequently, further increases in output, incomes and productivity may be expected from the recently rising share of private investment in the total. Public sector productivity has also increased in recent years, reflecting in part the increased importance of state owned firms in petroleum and natural gas. Egypt's economic growth is also now more closely correlated with that of the Organization for Economic Co-operation and Development countries magnified by a factor of 1.25...

Financial Sector Assessment Program Update : Egypt

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
65.84%
A joint team from the International Monetary Fund's (IMF's) Monetary and Financial Systems Department (MFD) and the World Bank visited Egypt between May 6 and May 21, 2007 to update the assessment of the Egyptian Financial Sector Assessment Program (FSAP) that had been conducted in June 2002 and completed in September 2002. The work under the FSAP update aimed to assess progress in reforming the financial sector and strengthening financial sector regulation since 2002, and identify measures that will contribute to the consolidation of the financial sector reform and the further development of the financial sector over the next five years.

The Role of Postal Networks in Expanding Access to Financial Services : Egypt's Postal Finance Services

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
75.76%
This paper discusses the role of the postal network in expanding access to financial services in Egypt. It reviews the public postal operator within the postal sector and within the broader context of the communications sector. The roles of the postal network and state and privately-owned banks are also reviewed from the perspective of the financial sector development, with particular focus on payments systems development and microfinance. The ultimate goal of postal reform is to create a system where modern technology and a free flow of information benefit the customer. A modern, efficient postal service that utilizes the latest information technology will not only increase Egypt's social and economic development, but will also contribute significantly to the creation of an Egyptian information society.

Macroeconomic Shocks and Banking Sector Developments in Egypt

Herrera, Santiago; Youssef, Hoda
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
85.96%
From 2008 to 2011, Egypt was hit by significant shocks, both global and country-specific. This paper assesses the impact of the resulting macroeconomic instability on the banking sector, and examines its role as a shock absorber. The Central Bank of Egypt accommodated the shocks by supplying liquidity to the market. The paper verifies a change in the fiscal regime from one in which the primary fiscal balance was used an instrument to stabilize the public debt ratio to one in which the policy instrument stopped playing that role and affected investors' assessment of the risk of holding public debt. This pattern suggests that fiscal conditions influenced exchange rate and price expectations originating a fiscal dominance situation in which the Central Bank could not control inflation. Hence, the Central Bank lacked functional independence in spite of its de jure independence, which underscores the importance of strengthening institutions that facilitate policy coordination and allow policy to be more predictable. The government also funds itself through non-market mechanisms...

Doing Business 2014 Economy Profile : Egypt, Arab Rep.

World Bank; International Finance Corporation
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
65.8%
This economy profile presents the Doing Business indicators for Egypt. In a series of annual reports, Doing Business assesses regulations affecting domestic firms in 189 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This year's report data cover regulations measured from June 2012 through May 2013. The report is the 11th edition of the Doing Business series.

Egypt - Next Step Recommendations for Affordable Housing Policy and the National Housing Program : Mortgaged-Linked Subsidies and Housing Supply considerations

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Urban Study; Economic & Sector Work
ENGLISH
Relevância na Pesquisa
85.94%
At the request of the Government of Egypt (GOE), the objective of this brief note is to provide concise recommendations on next steps for the National Housing Program (NHP). These recommendations and policy analysis are an elaboration of the framework for housing policy reform in urban areas in Egypt, a draft of which was endorsed by the Ministry of Housing, Utilities and Urban Development (MHUUD) and the Ministry of Investment (MOI) in the high-level policy workshop held in September 2007. The Framework, an evolving strategy building blocks document, proposed a set of comprehensive housing sector reforms and improvements to the NHP consisting of five action channels - unlocking the vacant housing stock, creating a fluid rental market, enhancing affordability through improved access to housing finance and reduction of formal housing supply cost, improved targeting of subsidies, and transforming the government's role into an enabler of the housing market. During the Ministerial workshop in September 2007, it was agreed that the four priority actions were: (i) the design and implementation of a housing information system; (ii) mainstreaming the use of demand-based mortgage-linked subsidy instruments; (iii) set up of a high-level housing policymaking body to coordinate and rationalize the interventions of the different concerned stakeholders; and (iv) expansion of the Housing Demand Study to other areas of Egypt. United States Agency for International Development or USAID Second Technical Assistance for Policy Reform...

Egypt - Linking Funding to Outputs : Expenditures of the Ministry of Agriculture and Land Reclamation

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH
Relevância na Pesquisa
65.78%
This review of the on-budget expenditure of the Ministry of Agriculture and Land Reclamation (MALR) in Egypt describes the broad outline of the MARL's expenditures and identifies key themes and issues. The report examines how the context of the agricultural sector has changed, and the adjustment challenge that such change poses for the MALR. It explains how the MALR is thinking about the future, describes the structures of the MALR, and presents expenditure trends for the MALR down to the sector or authority level. Also, the document identifies some key issues to be addressed and zooms in on the research institutions of the MALR, the Agricultural Research Centre and the Desert Research Centre.

Why Don’t Banks Lend to Egypt’s Private Sector?

Herrera, Santiago; Hurlin, Christophe; Zaki, Chahir
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
65.92%
Bank credit to Egypt's private sector decreased over the last decade, despite a recapitalized banking system and high rates of economic growth. Recent macro-economic turmoil has reinforced the trend. This paper explains the decrease based on credit supply and demand considerations by 1) presenting stylized facts regarding the evolution of the banks' sources and fund use in 2005 to 2011, noting two different cycles of external capital flows, and 2) estimating private credit supply and demand equations using quarterly data from 1998 to 2011. The system of simultaneous equations is estimated both assuming continuous market clearing and allowing for transitory price rigidity entailing market disequilibrium. The main results are robust to the market clearing assumption. During the global financial crisis, a significant capital outflow stalled bank deposit growth, which in turn affected the private sector's credit supply. At the same time, the banking sector increased credit to the government. Both factors reduced the private sector's credit supply during the period under study. After the trough of the global crisis...

Egypt - Positive Results from Knowledge Sharing and Modest Lending : An IEG Country Assistance Evaluation 1999-2007

Independent Evaluation Group
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research
EN_US
Relevância na Pesquisa
65.88%
This country assistance evaluation reviews World Bank support to the Arab Republic of Egypt from fiscal 1999 through 2007. Egypt's economic performance over the period improved substantially. This was particularly true after 2004, following improvements in economic management, an increase in the pace of structural reforms, and correction of the exchange rate. Gross domestic product growth averaged about five percent over the period, rising to almost seven percent in 2006 and 2007. Human development indicators improved significantly. However, progress in poverty reduction has been disappointing, with a deterioration in the poverty headcount, particularly in Upper Egypt. Future Bank strategy needs to reflect Egypt's middle-income status by including a flexible lending program and an emphasis on knowledge services, including reimbursable technical assistance. The Bank can further strengthen the partnership by focusing on: (i) the persistent issue of poverty and inequality; (ii) analytic work on macroeconomic analysis and income disparities and its improved dissemination; (iii) further financial sector reforms and promoting continued reforms in systems that indirectly combat corruption; and (iv) sectoral strategies and policy and institutional reforms in infrastructure and energy.

The impact of information/decision support systems (I/DSS) in debt management: The Egyptian experience.

Hassan, Ashraf El Sayed Rashad
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //1999 EN
Relevância na Pesquisa
65.63%
The introduction of technology-based tools into developing countries is usually impeded by a number of potential problems. The problems become murkier when the context of the issue, such as external debt management, where technology is to be used, does not have a standard textbook of rules and procedures to follow. The principle problems encountered during the course of our research for this thesis hinged the issue of possible inapplicability of information technology (IT), especially information and decision support systems (I/DSS). This is also the case for other tools and techniques built and used by developed countries in the developing world. The great deal of difference in the context of use; content of the systems; and the attitudes of the parties involved in the process forms the basis for our argument. The research was intended to draw on the lessons learned by the Cabinet Information and Decision Support Center (IDSC) during the introduction I/DSS for improving the decision making process in developing countries. Moreover, the research intended to tackle the issue of using I/DSS in a totally new context, other than for very structured purposes such as manufacturing and the like, and a challenging environment such as those in developing countries where difficulties of implementation and use are more in context...