Regulatory Alerts2019-01-01
Prime Minister's Decision No. 1584 of 2019 Establishing the Government Insurance Fund for Al-Azhar Education Students
The Egyptian Prime Minister issued Decision No. 1584 of 2019 to establish an independent government insurance fund under Al-Azhar Al-Sharif to provide comprehensive coverage for Al-Azhar students against natural death, accidents, and resulting disabilities. The fund, supervised by the Financial Regulatory Authority and managed by a Board of Directors appointed by the Grand Imam of Al-Azhar, will collect premiums alongside tuition fees and allocate all revenues exclusively to cover claims, administrative expenses, and actuarial reserves without seeking profit. The decision mandates strict financial oversight, including mandatory registration, quarterly reporting, Central Auditing Organization supervision, and adherence to Egyptian insurance accounting standards to ensure transparency and sustainable coverage for official, private, and foreign Al-Azhar students.