2 official holidays for private sector marking Islamic New Year, June 30 Revolution
CAIRO - 24 June 2025: As part of the state's commitment to standardizing official holiday dates for all workers in various sectors whenever possible, and to achieve the social and national objectives of allocating holidays for national and religious occasions, the Ministry of Labor announced two paid official holidays for private sector workers over the next two weeks, marking the Islamic New Year and the 12th anniversary of the June 30 Revolution.
1- First holiday: Thursday, June 26, 2025, will be an official paid holiday for private sector workers, marking the Islamic New Year 1447, corresponding to the first day of Muharram, according to the Sharia ruling announced by the relevant authorities.
2- Second holiday: Thursday, July 3, 2025, will be an official paid holiday, instead of Monday, June 30, to mark the anniversary of the June 30 Revolution, a milestone in Egypt's modern history.
This falls within the framework of the state's general policy, adopted years ago, regarding the postponement of official holidays to the weekend. This ensures regular work within institutions, on the one hand, and enables workers to make optimal use of consecutive rest periods, on the other.
This leave is granted to employees subject to the provisions of Labor Law No. 12 of 2003. Employers may employ workers on these two days if the nature of the work so requires, provided that the worker is paid double pay (twice their wage) for each day, in addition to their basic wage. This is in accordance with the provisions of the law regulating work on official holidays.
The Ministry of Labor issued two circulars, Nos. 11 and 12 of 2025, containing clear directives regarding the regulation of the two holidays. It also requested heads of central departments and directors of governorate directorates to disseminate the contents of the decision at workplaces and production sites and to take the necessary measures to ensure that establishments comply with it.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
18 hours ago
- Mid East Info
Amlak Finance announces early and full settlement of outstanding financing facilities - Middle East Business News and Information
Dubai, United Arab Emirates,July 2025: Amlak Finance PJSC, today announced its early and full settlement with the financiers, a pivotal achievement that underscores its financial discipline and strategic foresight. Since the initial restructuring under the Common Terms Agreement (CTA) in 2014, Amlak has successfully settled AED 10.2 billion with a total of 29 financiers. As of 24 July 2025, Amlak has fully settled its financial obligations, which were contractually scheduled to be settled by October 2026, by paying the balance amount of AED 898 million to the six remaining financiers ahead of schedule, which is a key step towards the formal CTA exit. Over the past few years, the settlement of financial obligations has been one of the most significant challenges. The Board of Directors and leadership team have exerted exceptional efforts in this regard to actively engage with the financiers and settle the obligations. These dedicated efforts have been instrumental in achieving this key milestone. This achievement was further reinforced by a series of strategic steps, including the sale of some land assets, which aligned with the company's long-term vision and facilitated the early settlement with the financiers. Commenting on the early settlement, Arif Albastaki, CEO of Amlak Finance PJSC, said: 'The successful settlement ahead of time, marked by the early fulfilment of our financial obligations, signifies a pivotal moment for Amlak. This achievement not only underscores our commitment to a robust financial framework but also reflects our resolve to deliver on our promises and empowers us to embark on our transformative journey with renewed vigour.' 'We are following a strategic path that not only strengthens our financial position but also allows us to focus on high-growth opportunities. This represents a critical step forward as we transition into a more agile and focused organisation,' added Arif. With a renewed focus on innovation, efficiency, and financial stability Amlak remains committed to driving sustainable growth and creating long-term value for its shareholders and other stakeholders. This milestone marks the beginning of an exciting new era for Amlak. Amlak Finance PJSC: Since its establishment in November 2000 as the region's pioneer financial services provider, Amlak Finance has provided its customers with innovative, Sharia-compliant property financing products and solutions designed to meet the rapidly evolving market demands.
See - Sada Elbalad
2 days ago
- See - Sada Elbalad
Egypt Declares Thursday Paid Public Holiday to Mark July 23 Revolution Anniv.
Ahmed Emam The Egyptian government announced that Thursday, July 24, 2025, will be a paid public holiday, in lieu of Wednesday, July 23, to mark the anniversary of the 1952 July 23 Revolution. The move aligns with a Cabinet decision to shift official holidays to the end of the week to provide extended breaks for workers. According to the Prime Minister's Decree No. 2474 of 2025, the holiday will be granted to employees across ministries, public authorities, state administrative bodies, public sector companies, and public business sector enterprises. The private sector will also observe the holiday under the provisions of Egyptian Labor Law No. 12 of 2003. The Ministry of Labor issued Circular No. 15 of 2025, clarifying that private sector workers covered by the labor law are entitled to a fully paid day off on Thursday, July 24. The decision is made in accordance with Article 52 of the labor law, which grants employees paid leave on official public holidays as determined by the competent minister. The circular emphasized that employers may require employees to work on the holiday if necessary for business operations. In such cases, workers are entitled to double their standard pay for the day, in addition to their regular wage. The Ministry urged all central administration heads and labor directorates across the country to implement the circular at workplaces and production sites and ensure full compliance with its provisions. The July 23 holiday commemorates the 1952 revolution led by the Free Officers Movement, which ended the monarchy and laid the foundations of modern republican Egypt. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks
CairoScene
3 days ago
- CairoScene
Sukna Capital Launches MENA's 1st Open-Ended Sharia-Compliant SME Fund
Sukna Capital has secured CMA approval to launch the region's first open-ended, Sharia-compliant direct lending fund, offering scalable, asset-backed financing for Saudi SMEs without equity dilution. Jul 22, 2025 Riyadh-based Sukna Capital has received official approval from Saudi Arabia's Capital Market Authority (CMA) to launch the Sukna Fund for Direct Financing (SFDF), a first-of-its-kind vehicle in the region designed to provide institutional capital to small and medium-sized enterprises (SMEs). The open-ended, Sharia-compliant structure allows investors to enter and exit at regular intervals while enabling SMEs to access non-dilutive, asset-backed financing. Unlike traditional private credit models, SFDF offers periodic liquidity without long lock-up periods, aligning with Sukna's mission to create more adaptable financing options for high-growth businesses. The fund targets SMEs that have historically faced limited access to bank lending. 'As of Q3 2024, SME lending in Saudi Arabia is estimated to be SR 329.23 billion, just 9.1% of total bank credit, well below the Vision 2030 target of 15% to 20%,' Sukna CEO Fares Bardeesi, who has led over $6.5 billion in transactions across real estate, tech, and healthcare, said. 'SFDF is designed to address that gap through institutional, regulator-aligned capital solutions tailored to the needs of high-potential businesses across sectors." The fund is backed by Sukna Ventures, the firm's tech-focused investment arm, and supported by Managing Partner Waleed Alballaa, a veteran of both Silicon Valley and the Saudi VC ecosystem. Alballaa, who serves on the fund's investment committee, noted that while the region's startup sector has matured, financing tools have not kept pace. 'We designed SFDF to meet founders where they are - with the right capital, at the right time, and without the red tape.' SFDF also incorporates Sukna's proprietary technology stack to manage loan origination, risk, monitoring, and investor reporting, offering transparency and scalability for both borrowers and investors.
