Egypt's legal firm Tahoun Consultancy has rescheduled debts of three troubled companies with total value of one billion Egyptian pounds during 2018, founder Nermine Tahoun told Amwal Al Ghad. The companies are operating in the industry and transportation sectors, Tahoun said, adding that this comes as part of the firm strategy to take over the task of legal advices to number of companies that face a difficulty in paying their debts to the banks especially after the liberalisation of exchange rates and the increase in the cost of borrowing. On the other hand, Tahoun pointed out her firms success over the past year to conclude various deals in the industrial sectors along with projects in the Suez Canal Economic Zone, as well as the completion of deals in the field of industrial development. The firm has completed obtaining the licences and the procedures for the establishment of two universities in the new administrative as well as carrying out amendments in a concession contract for two petroleum companies. In terms of monetary policy of the country, Tahoun referred to the expansion policy pursued by the Central Bank and its recent decision to reduce the interest rates on deposit and lending by 1%, confirming that the decision contributes to raising the rate of foreign direct investments by breaking the control of fixed income instruments including governmental bonds on liquidity. Founded in 1990, Tahoun Consultancy is an Egyptian partnership firm that has been operating since 2009. It is an advisory company, which is specialising in regulatory advisory and compliance services in the areas of commercial, financial, and business law and practice in the country.
