Tuesday, July 29, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Egypt launches first insurance pension in US dollars for expats

Egypt launches first insurance pension in US dollars for expats

by admin
August 14, 2023
in Insurance
0 0
0
Share on FacebookShare on Twitter


The Egyptian Monetary Supervisory Authority will maintain a press convention to announce the small print behind launching the primary insurance coverage pension coverage in US {dollars} for Egyptian expatriates.

The transfer is being carried out in cooperation with the Nationwide Financial institution of Egypt and Misr Life Insurance coverage Firm, a subsidiary of the Misr Insurance coverage Holding Firm.

The brand new coverage goals to encourage Egyptian expatriates to extend greenback remittances, whereas offering social safety on the similar time within the type of pension to beneficiaries.

Expatriates between 18-59 years outdated will be capable to buy a pension plan in {dollars}.

The minimal length of every coverage shall be 5 years, supplied that the pension is paid both in a single fee or by means of a set month-to-month pension that’s paid over a interval between ten and 15 years.

The minimal and most premium for every coverage shall be introduced throughout the press convention.

The deliberate coverage comes inside a framework of initiatives launched by the Egyptian authorities to extend the remittances of Egyptian expatriates, which fell to about $13 billion throughout the first six months of 2023.

These initiatives embrace motivating expatriates to open financial institution accounts in US greenback and shopping for greenback financial savings certificates with a excessive aggressive return.

The Nationwide Financial institution of Egypt introduced its cooperation with the Misr Life Insurance coverage Firm, to rearrange for the issuance of a brand new pension coverage.

The financial institution said that issuing a greenback pension coverage for Egyptian expatriates was primarily based on the approval issued by the Egyptian Monetary Supervisory Authority for Misr Life Insurance coverage Firm in March 2023, after finishing all the mandatory operational necessities.

The Egyptian authorities is intensively looking for to extend greenback revenues to cowl its overseas liabilities, which have elevated sharply for the reason that first quarter of 2022.

Different initiatives associated to Egyptian expatriates included a zero customs initiative to import vehicles for private use, which raised about $900 million, and the customs exemption initiative on gold imports.

The quantity of exempted gold imported below this initiative, amounted to about 600 kilograms inside three months.

The federal government additionally seeks to ascertain an funding firm for Egyptian expatriates, by means of the usage of the most effective specialised consulting places of work.



Source link

Tags: dollarsEgyptexpatsinsurancelaunchespension

Related Posts

‘Mixed bag’ for legal reforms as La. legislative session ends | Louisiana Record
Insurance

‘Mixed bag’ for legal reforms as La. legislative session ends | Louisiana Record

July 28, 2025
Japanese Firm Unveils Industry First Insurance for Municipalities for Damage During Emergency Wildlife Cull
Insurance

Japanese Firm Unveils Industry First Insurance for Municipalities for Damage During Emergency Wildlife Cull

July 27, 2025
Increase in MTPL Tariffs Will Improve Financial Standing of Uzbekistan’s Insurers
Insurance

Increase in MTPL Tariffs Will Improve Financial Standing of Uzbekistan’s Insurers

July 27, 2025
mandatory insurance for e-scooters « Euro Weekly News
Insurance

mandatory insurance for e-scooters « Euro Weekly News

July 26, 2025
Driving in UAE: What exactly is the black points system? key info every driver must know | World News
Insurance

Driving in UAE: What exactly is the black points system? key info every driver must know | World News

July 26, 2025
Woman Accused Of Evading Arrest With 3 Kids In Car
Insurance

Woman Accused Of Evading Arrest With 3 Kids In Car

July 25, 2025
Load More
Next Post
Weak yen gives Japan’s automakers familiar, though temporary, relief

Weak yen gives Japan's automakers familiar, though temporary, relief

Anand Mahindra’s M&M gave Pakistan its first finance minister, ET Auto

Anand Mahindra's M&M gave Pakistan its first finance minister, ET Auto

Categories

  • Auto News (3,427)
  • Automative Reviews (1,943)
  • Car Brands (2,069)
  • Insurance (3,451)
  • Market (1,610)
  • New Cars (2,171)
  • Technology (2,047)
  • Videos (2,146)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Tesla and Samsung Forge $16.5 Billion Chip Supply Deal for Next-Gen AI Chips, ETAuto
  • Mitsubishi to tune new BEV model in Australia
  • Is the 2021 Hyundai Elantra Limited the BEST new compact car to BUY?
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In