Cairo: Minister of Finance Ahmed Kouchouk has issued a decision outlining the conditions and procedures for registering experts and valuers in the register of the Egyptian Apparatus for the Management and Disposal of Recovered and Seized Assets. This move aims to enhance governance in asset management, ensuring efficiency, transparency, and independence in expert and valuation work, thereby safeguarding state assets and maximizing their value.

According to State Information Service Egypt, the decision defines the areas of responsibility and engagement rules for experts, focusing on legal entities and individual experts. Executive Director of the Authority, Mohamed Suleiman Koura, detailed the seven conditions for registering legal entities. These include requirements such as being an Egyptian joint-stock, partnership limited by shares, limited liability, or one-person company that aligns with the Authority's mandate. Additionally, entities must avoid conflicts of interest and maintain independence and integrity standards.

The decision also specifies conditions for individual experts, requiring them to be Egyptian nationals with a higher education qualification, good reputation, and at least ten years of professional experience. They must not have any legal impediments such as convictions, bankruptcy, or professional disbarment. A personal interview with the Authority is also part of the registration process.

Koura emphasized that the Authority will announce registration openings, detailing application procedures, deadlines, and required documents. The ministerial decision includes a simplified registration process for specific categories while retaining the Authority's ability to verify compliance. Coordination with the Financial Regulatory Authority and other bodies will also be established, although registration with other entities does not guarantee automatic registration with the Authority.