Controversial rules designed to monitor and control borrowing by private and public-sector companies are being finalized by Egypt’s ministry of economy. Senior government officials say the measures will prevent the economy from becoming vulnerable to an Asia-style collapse. If they aren’t blocked by another government department, the new regulations, the Sphinx Protocol, should be published in coming weeks. The ministry of economy’s plan would create a database of all current and potential bond issuers. Advance details of issues would be required, including the volume, maturity, coupon, currency and market of issuance.
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