After the announcement of the Federation of Egyptian Industries to establish a law to adjust money

circulation, to be presented to the Cabinet in December, a lot of economist welcomed this law

as it will be the first step in the advancement of the Egyptian economy,

As there is a global trend for the publication of this law in light of the global economic changes,

that by eliminating the non-formal economy which is not subject to the government supervision.

In addition, the process of struggling tax smuggling, which saves a lot of taxes that are lost to the

treasury funds.

Mr. Muhammad El Bahi, Chairman of tax committee in the Federation of Egyptian Industries said that

there is a lot of risk to deal with cash money like theft and fraud Therefore, dealing with banks credit cards

will reduce this risk, as well as help in handling the markets.

On his part Mr. Fayyad Abdel Moneim, former Minister of Economy and Professor of Economics

at Al-Azhar University sees that this system will serve the Egyptian economy significantly,

as it will reduce the cost of printing money, security expenses, and also will providing a data base for

volumes traded and expenditures in financial transactions which is useful to monetary State policy.