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أحداث وفاعليات الهيئةFRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
FRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
In accordance with the provisions of Unified Insurance Law No. 155 of 2024, issued by His Excellency the President of the Republic, Dr. Mohammed Farid, FRA Chairman has directed the Egyptian Compulsory Insurance Pool (ECIP) to take all necessary measures to accelerate the disbursement of essential compensation to the families of those deceased and injured in the recent tragic accident on the Regional Ring Road.
Under the Unified Insurance Law, the Egyptian Compulsory Insurance Pool (ECIP) is mandated to pay EGP 100,000 compensation for each death. Compensation for the injured will be determined based on the percentage of disability assessed by the Medical Commission.
FRA Chairman expressed his sincere condolences to the families of the deceased, praying for their patience and solace. He also wished a speedy recovery for the injured.
Dr. Farid urged Pool officials to immediately contact the victims’ families and the injured to address their inquiries. This proactive step aims to swiftly complete procedures and disburse the legally stipulated insurance amounts. As per Unified Insurance Law No. 155 of 2024, the Pool is solely responsible for disbursing compensation to those affected by road accidents, operating within the law’s new coverage limits. They must expedite compensation settlements for beneficiaries as soon as accident documentation is received and reviewed.
The Egyptian Compulsory Insurance Pool actively promotes traffic safety through ongoing awareness campaigns. These guidelines are crucial for protecting citizens and drivers, and for preventing accidents. These guidelines are as follows:
- Always drive at a speed that allows you to stop safely if you see a hazard, even if the road condition permits faster speeds.
- Stay focused on the road. Don’t let anything else distract you while driving.
- Keep a safe and adequate distance between your vehicle and others.
- Ensure your vehicle is regularly maintained, paying close attention to the condition of tires and brakes.
For inquiries or assistance, you can reach the Pool at their headquarters or any of their branches:
- Head Office:
44 Abdel Moneim Riad Street, off Batal Ahmed Abdel Aziz Street, Mohandessin, Giza Governorate.
Phone: 02(33047949)
- Tanta Branch:
City Mall Tower, 7th Floor, 42 El Bahr Street, Tanta City, Gharbia Governorate.
Phone: 040(3335132 – 3335131)
- Minya Branch:
Majestic Tower, 4th Floor, El Gomhouria Street, in front of Minya Train Station, Minya Governorate.
Phone: 086(2325388 – 2325389)
- Ismailia Branch:
El Ashry Plaza Tower, Shebin El Kom Street, in front of Ismailia Courts Complex, Ismailia Governorate.
Phone: 064(3169137 – 3169634)
More information can be found on the Pool’s official website: www.ecip-egypt.org
FRA Chairman Directs the Egyptian Compulsory Insurance Pool (ECIP) to Expediate EGP 100,000 Compensation for Each Victim in Monoufia Accident – Tuesday 1 July 2025
- Coverage under the Egyptian Compulsory Insurance Pool’s policy includes all fatalities and personal injuries caused by car accidents.
In a compassionate move to support families affected by the tragic Monoufia accident, Dr. Mohamed Farid, FRA Chairman directed leaders of the Egyptian Compulsory Insurance Pool for Civil Liability Arising from Motor Vehicle Accidents to quickly travel and meet with the victims’ families and those injured.
This directive was promptly executed on Tuesday when Ibrahim Labib – CEO of the Egyptian Compulsory Insurance Pool, accompanied by several team members, met with the victims’ families in Monoufia Governorate. Their primary goal was to assist families in gathering the necessary documents for the swift disbursement of EGP 100,000 in compensation for each fatality, as mandated by the Unified Insurance Law issued by the President.
These proactive visits are a direct result of FRA’s instructions to the Pool’s staff, emphasizing the urgent processing of requests from the families of the deceased and injured. The Pool is fully committed to provide comprehensive support, ensuring the required documentation is completed with ease and efficiency.
It’s important to note that the insurance policy issued by the Pool covers both fatalities and personal injuries resulting from car accidents. While EGP 100,000 is paid for each death, compensation for injuries is precisely determined by the percentage of disability, as assessed by a medical committee. FRA confirms that the Egyptian Compulsory Insurance Pool is the officially designated body for distributing these compensations under the new insurance law. This matter holds the highest priority for FRA, as it aligns with a modern insurance system designed to ensure fairness and provide prompt resolution.
Dr. Farid explicitly stated that his directives underscore the deep commitment to support the families of those who lost loved ones and those injured, standing firmly by them during this incredibly painful time. He extended his sincerest condolences to the victims’ families and offered heartfelt wishes for a rapid recovery to all who were injured.
FRA Approves Real Estate and Metals Investment Funds Alongside Broader Licenses for Five Companies – Monday 30 June 2025
- These approvals include Bokra Funds, Telda Securities Brokerage, Trend Holding and True Finance Lease.
FRA Committee for Establishing and Licensing Companies granted approval for Bokra Funds to establish two new investment vehicles: Bokra Real Estate Investment Fund and Bokra Metals Investment Fund. Additionally, Telda Securities Brokerage obtained an approval to receive subscriptions in investment fund certificates.
The Committee further approved licensing of Trend Holding Company to participate in the establishment or capital increase of companies issuing securities. Also, True Finance Lease received approval to incorporate factoring activity into its original corporate purpose.
As the designated body under FRA Chairman’s resolution No. 3060 of 2023, this Committee is responsible for a broad mandate that extends beyond initial licensing.
Its powers encompass approving the establishment and licensing of new non-bank financial companies, along with sanctioning requests for additional activities and mechanisms for existing firms.
The Committee also oversees changes in legal frameworks for companies in securities and consumer finance, approves amendments to articles of association (both preliminary and final) and ratifies incentive and reward schemes.
Furthermore, it provides opinions on suspending General Assembly resolutions for securities and consumer finance companies, approves the opening, re-location and closure of branches and processes requests for liquidation, temporary or voluntary suspension of activities. Finally, the Committee is responsible for the registration, renewal and delisting of founding agents for non-bank financial companies.
مؤتمرات و ندوات
Press ReleasesFRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
Press ReleasesFRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
FRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
In accordance with the provisions of Unified Insurance Law No. 155 of 2024, issued by His Excellency the President of the Republic, Dr. Mohammed Farid, FRA Chairman has directed the Egyptian Compulsory Insurance Pool (ECIP) to take all necessary measures to accelerate the disbursement of essential compensation to the families of those deceased and injured in the recent tragic accident on the Regional Ring Road.
Under the Unified Insurance Law, the Egyptian Compulsory Insurance Pool (ECIP) is mandated to pay EGP 100,000 compensation for each death. Compensation for the injured will be determined based on the percentage of disability assessed by the Medical Commission.
FRA Chairman expressed his sincere condolences to the families of the deceased, praying for their patience and solace. He also wished a speedy recovery for the injured.
Dr. Farid urged Pool officials to immediately contact the victims’ families and the injured to address their inquiries. This proactive step aims to swiftly complete procedures and disburse the legally stipulated insurance amounts. As per Unified Insurance Law No. 155 of 2024, the Pool is solely responsible for disbursing compensation to those affected by road accidents, operating within the law’s new coverage limits. They must expedite compensation settlements for beneficiaries as soon as accident documentation is received and reviewed.
The Egyptian Compulsory Insurance Pool actively promotes traffic safety through ongoing awareness campaigns. These guidelines are crucial for protecting citizens and drivers, and for preventing accidents. These guidelines are as follows:
- Always drive at a speed that allows you to stop safely if you see a hazard, even if the road condition permits faster speeds.
- Stay focused on the road. Don’t let anything else distract you while driving.
- Keep a safe and adequate distance between your vehicle and others.
- Ensure your vehicle is regularly maintained, paying close attention to the condition of tires and brakes.
For inquiries or assistance, you can reach the Pool at their headquarters or any of their branches:
- Head Office:
44 Abdel Moneim Riad Street, off Batal Ahmed Abdel Aziz Street, Mohandessin, Giza Governorate.
Phone: 02(33047949)
- Tanta Branch:
City Mall Tower, 7th Floor, 42 El Bahr Street, Tanta City, Gharbia Governorate.
Phone: 040(3335132 – 3335131)
- Minya Branch:
Majestic Tower, 4th Floor, El Gomhouria Street, in front of Minya Train Station, Minya Governorate.
Phone: 086(2325388 – 2325389)
- Ismailia Branch:
El Ashry Plaza Tower, Shebin El Kom Street, in front of Ismailia Courts Complex, Ismailia Governorate.
Phone: 064(3169137 – 3169634)
More information can be found on the Pool’s official website: www.ecip-egypt.org
FRA Chairman Directs the Egyptian Compulsory Insurance Pool (ECIP) to Expediate EGP 100,000 Compensation for Each Victim in Monoufia Accident – Tuesday 1 July 2025
- Coverage under the Egyptian Compulsory Insurance Pool’s policy includes all fatalities and personal injuries caused by car accidents.
In a compassionate move to support families affected by the tragic Monoufia accident, Dr. Mohamed Farid, FRA Chairman directed leaders of the Egyptian Compulsory Insurance Pool for Civil Liability Arising from Motor Vehicle Accidents to quickly travel and meet with the victims’ families and those injured.
This directive was promptly executed on Tuesday when Ibrahim Labib – CEO of the Egyptian Compulsory Insurance Pool, accompanied by several team members, met with the victims’ families in Monoufia Governorate. Their primary goal was to assist families in gathering the necessary documents for the swift disbursement of EGP 100,000 in compensation for each fatality, as mandated by the Unified Insurance Law issued by the President.
These proactive visits are a direct result of FRA’s instructions to the Pool’s staff, emphasizing the urgent processing of requests from the families of the deceased and injured. The Pool is fully committed to provide comprehensive support, ensuring the required documentation is completed with ease and efficiency.
It’s important to note that the insurance policy issued by the Pool covers both fatalities and personal injuries resulting from car accidents. While EGP 100,000 is paid for each death, compensation for injuries is precisely determined by the percentage of disability, as assessed by a medical committee. FRA confirms that the Egyptian Compulsory Insurance Pool is the officially designated body for distributing these compensations under the new insurance law. This matter holds the highest priority for FRA, as it aligns with a modern insurance system designed to ensure fairness and provide prompt resolution.
Dr. Farid explicitly stated that his directives underscore the deep commitment to support the families of those who lost loved ones and those injured, standing firmly by them during this incredibly painful time. He extended his sincerest condolences to the victims’ families and offered heartfelt wishes for a rapid recovery to all who were injured.
FRA Approves Real Estate and Metals Investment Funds Alongside Broader Licenses for Five Companies – Monday 30 June 2025
- These approvals include Bokra Funds, Telda Securities Brokerage, Trend Holding and True Finance Lease.
FRA Committee for Establishing and Licensing Companies granted approval for Bokra Funds to establish two new investment vehicles: Bokra Real Estate Investment Fund and Bokra Metals Investment Fund. Additionally, Telda Securities Brokerage obtained an approval to receive subscriptions in investment fund certificates.
The Committee further approved licensing of Trend Holding Company to participate in the establishment or capital increase of companies issuing securities. Also, True Finance Lease received approval to incorporate factoring activity into its original corporate purpose.
As the designated body under FRA Chairman’s resolution No. 3060 of 2023, this Committee is responsible for a broad mandate that extends beyond initial licensing.
Its powers encompass approving the establishment and licensing of new non-bank financial companies, along with sanctioning requests for additional activities and mechanisms for existing firms.
The Committee also oversees changes in legal frameworks for companies in securities and consumer finance, approves amendments to articles of association (both preliminary and final) and ratifies incentive and reward schemes.
Furthermore, it provides opinions on suspending General Assembly resolutions for securities and consumer finance companies, approves the opening, re-location and closure of branches and processes requests for liquidation, temporary or voluntary suspension of activities. Finally, the Committee is responsible for the registration, renewal and delisting of founding agents for non-bank financial companies.
FRA in the Newsالقرية الذكية- 10 نوفمبر 2020 : د. عمران بصفته رئيساً لمجلس إدارة معهد الخدمات المالية يوقع اتفاقاً مع معهد دراسات البورصة IEB الإسباني لمنح درجة الماجستير في الأسواق المالية بحضور السفير الإسباني بالقاهرة ،وسفيرنا في مدريد عبر تقنية الفيديو كونفرس
FRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
القرية الذكية- 10 نوفمبر 2020 : د. عمران بصفته رئيساً لمجلس إدارة معهد الخدمات المالية يوقع اتفاقاً مع معهد دراسات البورصة IEB الإسباني لمنح درجة الماجستير في الأسواق المالية بحضور السفير الإسباني بالقاهرة ،وسفيرنا في مدريد عبر تقنية الفيديو كونفرس
FRA Chairman Directs EPIC to Expedite EGP 100,000 Per Deceased in Regional Road Accident – Monday 7 July 2025
In accordance with the provisions of Unified Insurance Law No. 155 of 2024, issued by His Excellency the President of the Republic, Dr. Mohammed Farid, FRA Chairman has directed the Egyptian Compulsory Insurance Pool (ECIP) to take all necessary measures to accelerate the disbursement of essential compensation to the families of those deceased and injured in the recent tragic accident on the Regional Ring Road.
Under the Unified Insurance Law, the Egyptian Compulsory Insurance Pool (ECIP) is mandated to pay EGP 100,000 compensation for each death. Compensation for the injured will be determined based on the percentage of disability assessed by the Medical Commission.
FRA Chairman expressed his sincere condolences to the families of the deceased, praying for their patience and solace. He also wished a speedy recovery for the injured.
Dr. Farid urged Pool officials to immediately contact the victims’ families and the injured to address their inquiries. This proactive step aims to swiftly complete procedures and disburse the legally stipulated insurance amounts. As per Unified Insurance Law No. 155 of 2024, the Pool is solely responsible for disbursing compensation to those affected by road accidents, operating within the law’s new coverage limits. They must expedite compensation settlements for beneficiaries as soon as accident documentation is received and reviewed.
The Egyptian Compulsory Insurance Pool actively promotes traffic safety through ongoing awareness campaigns. These guidelines are crucial for protecting citizens and drivers, and for preventing accidents. These guidelines are as follows:
- Always drive at a speed that allows you to stop safely if you see a hazard, even if the road condition permits faster speeds.
- Stay focused on the road. Don’t let anything else distract you while driving.
- Keep a safe and adequate distance between your vehicle and others.
- Ensure your vehicle is regularly maintained, paying close attention to the condition of tires and brakes.
For inquiries or assistance, you can reach the Pool at their headquarters or any of their branches:
- Head Office:
44 Abdel Moneim Riad Street, off Batal Ahmed Abdel Aziz Street, Mohandessin, Giza Governorate.
Phone: 02(33047949)
- Tanta Branch:
City Mall Tower, 7th Floor, 42 El Bahr Street, Tanta City, Gharbia Governorate.
Phone: 040(3335132 – 3335131)
- Minya Branch:
Majestic Tower, 4th Floor, El Gomhouria Street, in front of Minya Train Station, Minya Governorate.
Phone: 086(2325388 – 2325389)
- Ismailia Branch:
El Ashry Plaza Tower, Shebin El Kom Street, in front of Ismailia Courts Complex, Ismailia Governorate.
Phone: 064(3169137 – 3169634)
More information can be found on the Pool’s official website: www.ecip-egypt.org