Egyptian Co-operative Insurance to Approve Business Results of FY12/13

The Egyptian Association for Co-operative Insurance has held its  general assembly today in the presence of a majority of the members of the Board of Directors , headed by Hamdy Azzam, Chairman of the board of Directors of IDWBE.

The Association ratified the Board of Directors’ report regarding the association’s activity  for the fiscal year of 2013/2014 and agreed on a budget and an investment account the rights of members ,income and expenditure and the auditor’s report .

It also ratified the Assembly to identify EGP500 transportation allowance of the members and the continued the attendance allowance sessions with EGP1000, and the association decided to waive any bonuses given to it due to the conditions experienced by the association at present.

Mohamed Shafie member of the Board of Directors suggested taking bonus and donation amount and determine EGP50.000 fees , in addition to the recommendation to study the provision of life- insurance policy and document pension for all workers and the contribution of a maximum of EGP250. 000 of the Board of Directors .