Egypt begins implementing 1st insurance policy for Egyptians expat. in early 2022



Mon, 27 Dec 2021 - 12:24 GMT


Mon, 27 Dec 2021 - 12:24 GMT

FILE - Head of the Egyptian Financial Regulatory Authority (FRA) Mohamed Omran

FILE - Head of the Egyptian Financial Regulatory Authority (FRA) Mohamed Omran

CAIRO - 27 December 2021: Head of the Financial Regulatory Authority (FRA) announced Monday the start of implementing the first insurance policy for Egyptians expatriates, in cooperation with the Ministry of Immigration and the Egyptian Insurance Federation.


Omran clarified that there are consultations that the insurance policy for Egyptians working abroad will become compulsory in the new law.


With regard to insurance coverage, Omran indicated that in the event of death due to an accident, the company pays LE 100,000 according to the following details:-


1- The actual cost of preparing, shipping and transporting the corpse 2- Then the rest of the amount is distributed to the legal heirs according to the inheritance notification.


In the case of a natural death, Omran stated that the actual cost of preparing, shipping and transporting the body is paid only, and does not exceed LE 100,000.


He pointed out that the duration of the document is one year and can be increased up to 3 years, stressing that it is a document approved by the authority and can be obtained easily.


He continued that the document aims to protect all Egyptians working and residing abroad.


On how to obtain the document through the work permit offices, he noted that when the citizen applies for a work permit from the offices of the General Police Department, the insurance premium is paid at about LE 100, and the insurance policy number appears to him on the payment receipt.


As for obtaining it through the electronic platform, citizens who are outside the country can enter the Majmaah website via the link to obtain the document.


Ambassador Nabila Makram had signed, for the first time, a memorandum of understanding with Mohamed Omran, Chairman of the Financial Supervisory Authority, and Alaa Al-Zuhairi, President of the Egyptian Insurance Federation, with the aim of cooperating in the field of providing insurance protection for Egyptians working and residing abroad, by providing insurance coverage in Cases of death, transfer of bodies, accidents, and payment of appropriate compensation.


The signing of the memorandum of understanding between the Ministry of Immigration, the Financial Supervisory Authority and the Egyptian Insurance Federation, and in coordination with the concerned authorities, to implement insurance, comes within the framework of supporting the efforts of the Egyptian state to protect Egyptians working abroad, and in response to the requests of Egyptian citizens abroad, provided that it is applied to all workers and residents abroad, in a way that contributes In strengthening the bonds of belonging to the homeland, as well as developing and raising the efficiency of insurance awareness and raising the level of insurance culture.




Leave a Comment

Be Social