2018-01-10

A circular dated January 9, 2018 regarding monitoring the accounts of deceased persons to avoid adding insurance and pension benefits to them.

In Cairo, Egypt on January 9, 2018: The President/Chairman of the Egyptian Social Insurance Authority in the Central Bank of Egypt stated that there are many accounts at some banks where death benefits and pensions are being paid despite their owners' deaths. He emphasized the importance of regularly monitoring these accounts and informing the Social Insurance Authority to cleanse them and avoid duplication of payment without justification. Please take the necessary measures in this regard, and accept my highest regards. Sincerely, Gamal Nagim

Egypt

Central Bank of Egypt

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