Regulatory Alerts2017-01-01
Prime Minister's Decision No. 861 of 2017
The Egyptian Prime Minister issued Decision No. 861 of 2017 to reorganize the Government Insurance Fund for Guarantees of Custodians, granting it independent legal personality and subordinating it to the Ministry of Finance. The Fund is mandated to maintain a reserve to insure state administrative employees against loss, damage, or theft of cash and entrusted items, with its governance, insurance premiums, and financial oversight strictly regulated by the Financial Regulatory Authority and subject to annual actuarial valuations. The decision establishes the fund's board composition, revenue sources, fiscal alignment with the state budget, and transitional provisions transferring regulatory management to the authority and staff to the ministry within six months.