By: Ahmed Kamel CAIRO, March 4, 2018 - A network of 2,475 branches of four state-ownedbanks will today begin issuing "Aman Certificates" (Social Security Certificates) for day labourers. The four banks are the National Bank of Egypt, Banque Misr, Banque du Caire and the Agricultural Bank of Egypt. Day labourers can get the newly launched "Aman Certificate" for Egyptians aged 18-59, in five tranches ranging between LE500 (around $28.5) and LE2,500. The three-year certificate can be renewed twice and partially or fully refunded after six months of being issued. Yields on the certificate stand at 16 per cent annually, and LE4-LE20 fees are deducted, according to the certificate's value. The beneficiaries can claim cash compensation in case of natural or accidental death, and they can receive a monthly pension for five or 10 years, according to the terms of the certificate. During the inauguration of theinfrastructure projects in the New El Alamein City last week, President Abdel Fattah El Sisi instructed the government to provide day labourers with social security coverage. The President gave directives to the parties concerned to provide LE5 billion in social security for the two million day labourersworking on the national projects supervised by the army.
