Already approves only Orthodox conversions. The bill won't change that - it would only grant more people the authority the perform such conversions. Maybe those who underwent other forms of conversions are registered as Jews by the State and are granted citizenship automatically, but as the article said - the Rabbinate, which is the official branch of government (by law) in charge of Jewish "personal status" (marriage, divorce, conversions in Israel) won't accept them. What people don't seem to figure out is that ALL CONVERSIONS IN ISRAEL (which are recognized by the state) ALWAYS HAVE BEEN ORTHODOX.
Egypt to hold parliamentary election in 2 phases starting Oct 18-19 (Reuters)
from the article: Bill granting Rabbinate monopoly on conversions sparks fiery debate