The Egypt Financial Regulatory Authority has issued a decision amending the terms and pricing of insurance operations for the Government Insurance Fund for Al-Azhar education students, increasing the insurance protection ceiling to EGP 30,000 from EGP 20,000 and revising the per-student contribution collected through tuition fees. The decision sets the contribution at EGP 19.23 for pre-university Al-Azhar students and EGP 23.78 for Al-Azhar university students, to be collected within study fees without additional charges. Coverage of EGP 30,000 applies to natural death, accidental death and total permanent disability resulting from an accident; partial permanent disability is paid as a percentage of the insured amount up to the EGP 30,000 cap, with the percentage assessed by a competent medical authority designated by the fund’s board. Al-Azhar is required to pay contributions on behalf of any exempt cases and to cover any deficit in the fund’s resources, and the fund must periodically review the annual contribution based on its actual experience. The announcement frames the measure as the first practical application of Article 60 of the Unified Insurance Law for setting terms and prices for government insurance funds. The text states the amendments take effect from 1 July, but refers to both 2026 and 2025 as the effective year.
Egypt Financial Regulatory Authority 2026-02-08
Egypt Financial Regulatory Authority raises Al-Azhar student insurance fund cover to EGP 30,000 and sets new contribution rates
The Egypt Financial Regulatory Authority has amended the insurance terms for the Government Insurance Fund for Al-Azhar education students, raising the coverage ceiling to EGP 30,000 from EGP 20,000. The per-student contribution is EGP 19.23 for pre-university and EGP 23.78 for university students, included in tuition fees. This is the first application of Article 60 of the Unified Insurance Law, with Al-Azhar covering contributions for exempt cases and any fund deficits.