The Egypt Financial Regulatory Authority (FRA) met with the Minister of Agriculture and Land Reclamation to discuss accelerating implementation of the Agricultural Takaful Fund’s work plan and activating its role in providing insurance protection for farmers and agricultural workers. The FRA indicated it will provide technical support and advisory assistance to help the fund operate effectively and efficiently under the Unified Insurance Law. The planned coverage is intended to help agricultural workers withstand climate-related and other risks and continue their activities. Discussions focused on broadening the insurance umbrella to cover both crops and livestock and simplifying procedures to increase access to insurance benefits. The release also noted that the Unified Insurance Law includes provisions on agricultural insurance and natural disaster coverage, and that the fund was created by presidential decision to cover losses from natural disasters and pest risks affecting crop production, with a subsequent 2024 prime ministerial decision establishing the fund’s board.
Egypt Financial Regulatory Authority 2025-07-09
Egypt Financial Regulatory Authority to support activation of the Agricultural Takaful Fund and expansion of insurance cover for crops and livestock
The Egypt Financial Regulatory Authority (FRA) and the Minister of Agriculture discussed accelerating the Agricultural Takaful Fund's work plan to enhance insurance protection for farmers under the Unified Insurance Law. The FRA will provide technical support to ensure efficient fund operation, focusing on expanding coverage to crops and livestock and simplifying access to benefits. Established by presidential and prime ministerial decisions, the fund aims to mitigate climate-related and pest risks.