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Financial Control: Amending the Staff Insurance Regulations for the Constitutional Court and the Ministry of Aviation


Counselor Reda Abdel Muti, Deputy Chairman of the Financial Supervisory Authority, issued two decisions No. 267 and 269 for the year 2021, approving the amendment of the statute of the private insurance fund for employees of the Supreme Constitutional Court, the Ministry of Civil Aviation and some of its affiliates.

 

It is noteworthy that the private insurance fund is every system in any association, union, body, or individuals linked by one profession, work, or any other social connection consisting of other than capital and the purpose of which according to its statute is to lead to its members or beneficiaries of compensation or financial benefits Or periodic salaries or specific pensions.

 

The number of private insurance funds registered with the Financial Supervisory Authority reached 756 at the end of 2020, of which the worker reached 686 in addition to 70 funds under liquidation, from which about 5 million members benefit, with a total annual subscription of 9.7 billion pounds at the end of 2020, and the estimated value of investments Private insurance funds by the end of 2020 valued at EGP 83.4 billion, with a growth rate of 10% compared to the previous year.

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