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Sunday, 25 August 2019

FRA chairman says over 22mn students to benefit from 2 insurance funds

MENA , Tuesday 9 Jul 2019
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More than 22 million students are expected to benefit from two insurance funds that should be established following a decision by the prime minister to that effect, says chairman of the Financial Regulatory Authority (FRA) Mohamed Omran. 

One of the funds should cover some 20 million pre-university students enrolled in government, private, language and international schools, as well as vocational schools, Omran told MENA Tuesday. 

The other fund will be allocated for more than two million students enrolled in schools affiliated with Al Azhar, as well as students of Al Azhar University, he said.

Fees should not exceed a few pounds and will be determined by Al Azhar and the Ministry of Education, Omran noted. 

He expected the funds to go into effect as of the 2019-2020 academic year. 

The FRA will play a supervisory role and will provide technical support for the Ministry of Education and Al Azhar, Omran added. 

The two funds will provide social coverage against risks of accidents, total or partial paralysis and will cover costs of surgeries and any necessary medications. The funds will also provide a minimum limit of social assistance to be allocated for students who are living in poor and remote governorates. 

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