Egypt on Monday approved a bill that regulates ride-hailing apps like Uber and Careem. The bill stipulates that all ride-sharing companies must pay up to 30 million pounds ($1.7 million) to obtain a five-year license, while the cabinet can approve payment in instalments, according to the state-run Al-Ahram newspaper. Egypts minister of parliamentary affairs reassured lawmakers that the bill will be implemented according to the criminal code, which includes regulations on obtaining private information, and the constitution, Dawoud said. In March an Egyptian administrative court banned the ride-sharing services following a lawsuit by a lawyer representing cab drivers. But Uber and UAE-based Careem appealed the ban, and the following month the ruling was suspended pending a verdict from the higher administrative court. Many Egyptians who complain about taxi services, including drivers who refuse to turn on their meters or their air conditioning during the summer heat, had switched to the ride-sharing apps. Uber has faced regulatory and legal setbacks around the world amid opposition from traditional taxi services. It has been forced to quit several countries, such as Denmark and Hungary. Uber has said Egypt is its largest market in the Middle East, with 157,000 drivers in 2017 and 4 million users since its launch there in 2014. “This is a major step forward for the ride-sharing industry as Egypt becomes one of the first countries in the Middle East to pass progressive regulations,” Uber said in a statement. “We will continue working with the prime minister and the cabinet in the coming months as the law is finalized, and look forward to continuing to serve the millions of Egyptian riders and drivers that rely on Uber.” The law also requires the companies to retain user data for 180 days and share it with authorities “on request” and “according to the law,” according to a copy of the law reviewed by Reuters. An earlier draft of the bill had called for real-time data sharing by the companies, but that prompted some opposition in parliament due to privacy concerns. The law must now be ratified by President Abdul Fattah al-Sisi