Egypt Introduces a US Dollar Pension Plan for Egyptians Living Abroad ...Egypt

Egypt’s Financial Regulatory Authority announced the launch of the first US dollar-based pension plan for Egyptians residing overseas, on Monday, 15 August. This plan will be issued by Misr Life Insurance Company, in cooperation with the National Bank of Egypt (NBE). This pension plan, which starts with a one-time payment of a minimum of USD 500 (EGP 15,451) and a maximum of USD 10,000 (EGP 309,034), is open to Egyptian expatriates aged 18 to 59. Pensioners can choose to redeem their investments as a lump amount or in monthly installments over a period of either 10 or 15 years, and they can make a monthly payment in US dollars over a period of 10 to 15 years. Additionally, individuals have

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