Egypt's Parliament Provisionally Approves Bill to Regulate Refugee Status
November 18, 2024, 12:53 pm

Egypt's Parliament Provisionally Approves Bill to Regulate Refugee Status

البرلمان المصري

In an effort to formalize the presence of refugees and distinguish them from other foreign residents, the Egyptian House of Representatives (Parliament) provisionally approved a bill on Sunday aimed at regulating the status of refugees, whose numbers have recently increased due to conflicts and wars in the region.

The draft law establishes regulatory guidelines that grant refugees certain privileges and rights while requiring compliance with Egyptian legislation. It differentiates between a refugee who faces compelling circumstances preventing their return to their home country and a foreign visitor residing in Egypt for various reasons, including work and study.

The bill, submitted by the government, organizes the rights and obligations of refugees within the framework of international agreements that Egypt has joined, ensuring the provision of support and care for those entitled, as outlined in the proposed text.

Under the new law, a permanent committee for refugee affairs will be established “to be the responsible authority for all matters concerning refugees, including information and statistical data... The committee will adjudicate asylum requests in coordination with the United Nations High Commissioner for Refugees (UNHCR),” according to the Middle East News Agency.

The committee is expected to review asylum requests within six months for those who entered the country legally and within a maximum of one year for those who entered illegally. “Refugees will immediately gain rights upon obtaining this status, including the right to receive travel documents... and a prohibition on their delivery to the state of their nationality or the country of their habitual residence,” the draft law states.

Ahmed Al-Awadi, Chairman of the Defense and National Security Committee in the Egyptian Parliament, noted that “the draft law primarily targets the formalization of the status of refugees currently in Egypt, enabling them to have rights and access to support in work and life while imposing several obligations, chief among them adherence to the laws of the country.”

Al-Awadi told Asharq Al-Awsat, “Egypt hosts millions of foreign residents, all of whom live on its soil as honored guests without residing in camps.” He highlighted that “due to recent regional turmoil, their numbers have risen to represent over 8.5 percent of the population, imposing an economic burden on the country exceeding $10 billion annually; thus, it was essential to regulate their status through legislation that aligns with international standards.” The Egyptian Prime Minister previously estimated the direct cost of hosting over 9 million people at more than $10 billion annually.

The UN refugee agency previously indicated that "more than 1.2 million Sudanese have sought refuge in Egypt" since the outbreak of conflict between the Sudanese army and the Rapid Support Forces in April 2023. Al-Awadi distinguished between a refugee and a migrant or visitor to the country, stating, “The new legislation applies to refugees, who are those prevented from returning to their home countries by compelling circumstances, placing their situation different from that of a visitor or migrant who voluntarily visits Egypt and can return to their country at any time.”

He noted that “the refugee affairs committee will be responsible for receiving and deciding on asylum requests in coordination with the UNHCR, and the law will provide refugees with job opportunities and the ability to establish businesses.”

According to the draft law, “An asylum request will not be accepted if the applicant has serious grounds for committing a crime against peace or humanity, a war crime, or if they committed a serious crime before arriving in Egypt, acted in violation of the objectives and principles of the United Nations, is listed on the terrorism entities and individuals lists in Egypt, or committed any acts that could jeopardize national security or public order.” Egypt has the right to deport asylum applicants if their requests are denied.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.