RIYADH: Egypt will launch the first-ever insurance policy for Egyptians working and residing abroad effective January 2022, Nabila Makram, the country’s minister of emigration and expatriates affairs said. The project will be carried out in cooperation with the Financial Regulatory Authority. FRA chief Mohamed Omran pointed out the duration of the insurance document is one year and can be increased up to three years. The value of the insurance policy is 100,000 Egyptian pounds ($6,360) with the possibility of paying its value in installments at a monthly rate of 100 Egyptian pounds. Registration for the insurance policy is to be done through an electronic platform affiliated with the Egyptian Association for Travel Insurance website, Makram said. The ministry will be publishing the mechanisms of entry into the insurance umbrella for all Egyptian communities abroad so that they can benefit from it, she added.