Maximum wage law does not apply to Banque Misr per court ruling
Banque Misr - YOUM7 (Archive)

CAIRO: The Administrative Justice Court revoked a decree issued by former Prime Minister Ibrahim Mahlab on applying the maximum wage law on the staff of Banque Misr, Youm7 reported Wednesday.

A lawsuit filed by employees from Banque Misr said that the statute of the bank company makes the decree inapplicable to them.

The court said that the decree violates the law in a way that makes it ineffective, Youm7 reported.

In late 2013, Mahlab decreed that the maximum wage of any government employee should be 42,000 EGP, including the President of Egypt. The law, which also entails that the minimum wage should be 1,200 EGP, was effective from July 2014. Diplomats are excluded from the law.

The controversial law was countered by many lawsuits, which have often resulted in exempting some sectors from the law. In the past months, several court of the State Council exempted the staff of some banks, the information technology sector, the judiciary and the prosecution.

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