Minister of Immigration and Egyptian Expatriate Affairs Nabila Makram discussed with governor of the Central Bank of Egypt (CBE) Tarek Amer about the dollar portfolios the banks intend to issue for Egyptian expatriates. Makram told Daily News Egypt that CBE and state banks are studying how to launch these dollar portfolios in terms of the value of the certificate or portfolio, the interest rate, and the duration of deposit, expecting the launch to be this week. She will start an international tour with Amer to promote these new portfolios, which will give the chance for Egyptian expatriates in other countries to help their home country in the face of the dollar crisis. A Facebook page will be launched soon by the ministry to communicate with Egyptian expatriates, provide them with information about the certificates, and correct the image of Egypt abroad. Makram agreed that Egyptian expatriates need to set an investment mechanism to guarantee Egyptians abroad can attain their dollar requirements at any time. The General Union of Egyptian Expatriates launched the "Giving Back Initiative" to allow Egyptian expatriates to donate a minimum of $100 each to the Long Live Egypt Fund. This initiative has to be supported and a governing authority will be allocated to open suitable portfolios for these donations, she said. She will hold a meeting with the Ministry of Social Solidarity next week in the presence of the ministries of Interior, Foreign Affairs, and Manpower to discuss setting a social insurance umbrella for Egyptian expatriates. The Ministry of Immigration seeks to develop a system of compulsory insurance for Egyptian expatriates instead of the optional insurance currently applied under the Act of 1980. The criminalisation of illegal immigration draft law will be submitted soon to the House of Representatives for approval. It aims to address the people and companies that take advantage of the youth's dreams of immigration. The new law seeks to include all communities, associations, and federations under the ministry affiliation. This law aims for further communication with community parties inside and outside Egypt to arrive at the necessary legislation in achieving its objective. The ministry submitted its new structure to the Central Agency for Organisation and Administration in preparation to present it to the Ministry of Finance. She refuted media reports about abolishing the Ministry of Immigration, that it addresses many difficult problems and issues. The Association of Egyptian Doctors in America agreed with the ministry to send raw materials for the cure of the Hepatitis C virus as well as laboratory equipment to the Ministry of Health, she sad. The ministry signed a cooperation protocol with the Long Live Egypt Fund to contribute to the reduction of production costs of the Hepatitis C virus cure with the help of Egyptian doctors abroad. Source: Daily News Egypt
