Dr. Mohamed Awad, GAFI CEO:
- Ministry of Foreign Affairs, International Cooperation and Egyptian Expatriates promotes awareness of the “Your Pension is in Dollars Tomorrow” insurance policy.
- The policy offers a flexible redemption system.
- The policy contributes to advancing financial and insurance inclusion while increasing and stabilizing foreign currency remittances.
At the invitation of Dr. Badr Abdelatty, the Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates, Dr. Mohamed Awad, the Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), attended, on behalf of the Minister of Investment and Foreign Trade (MIFT Minister), the signing ceremony of a cooperation protocol between the Ministry of Foreign Affairs, International Cooperation and Egyptian Expatriates and Misr Life Insurance Company to promote “Your Pension is in Dollars Tomorrow” insurance policy and raise awareness of its role in enhancing the economic security of Egyptians living abroad, as well as its positive contribution to the Egyptian economy.
The protocol was signed by Ambassador Nabil Habashi, Deputy Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates, and Mr. Mostafa El Kammash, Managing Director and Chief Executive Officer of Misr Life Insurance Company, on the sidelines of the seventh edition of the Egyptians Abroad Conference, held under the theme “No Matter How Far We Roam, Egypt Brings Us Together”, organized by the Ministry of Foreign Affairs, International Cooperation and Egyptian Expatriates.
The protocol aims to promote awareness of “Your Pension is in Dollars Tomorrow” insurance policy through the Ministry's embassies and consulates worldwide, ensuring that information about the policy reaches the widest possible segment of Egyptian communities abroad while familiarizing them with its benefits and subscription procedures.
The policy provides a modern insurance solution that offers the insurance coverage and financial protection needed by Egyptians working abroad, while also combining investment and long-term savings features to ensure that subscribers receive an appropriate retirement benefit upon reaching the retirement age they select.
The policy also offers a flexible redemption system, whereby the policy value or monthly pension installments are paid upon reaching the selected maturity age or in the event of death or permanent total disability. In addition, policyholders may purchase policies with multiple maturity ages.
“Your Pension is in Dollars Tomorrow” insurance policy supports the Egyptian Government's efforts to advance financial and insurance inclusion while increasing and stabilizing foreign currency remittances, which constitute one of the country's principal sources of foreign exchange.
