Egypt: No privatization of health insurance sector
Egypt, Economics, 4/16/2007

The decision on setting up a holding company for Health Insurance comes within the framework of the Egyptian government's plan on developing the health insurance sector to comprise the pan-Egyptian citizens since its coverage now only includes 50% of the Egyptians, said Dr. Magdi Radi, the Cabinet spokesman yesterday.

Establishing such a holding company does not mean privatization of the health insurance sector but means providing quality services for remedy.

Meantime, all public insurance money is protected and kept at the National Investment Bank, Minister of Legal and Parliamentary Councils Affairs Mufid Shehab reaffirmed on Sunday.

Replying to a question at the People's Assembly (Lower House of Egyptian parliament), Shehab rubbished any talk of mishandling insurance money or of transferring funds to the budget of the Finance Ministry. Shehab said the government is ready to discuss all relevant details whenever the parliament sees fit.

For his part, parliament Speaker Fathi Sorour said the issue, together with a number of related issues, will be discussed before the end of the current parliamentary session.

Previous Stories:
  Egypt financial sector reforms discussed   (2/14/2006)
  Egypt insurance markets beat counterparts in Africa   (10/17/2005)
  Egypt privatization revenues hit LE 5.6 billion   (8/18/2005)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search