
Takaful and Karama a national model to be emulated globally in social protection: Al-Mashat
Al-Mashat stated the 2025/2026 development plan allocates EGP 327bn for human development, an annual 22% increase. She noted the World Bank has provided EGP 70bn in development financing for the programme since 2015, with EGP 1.2bn for economic empowerment of beneficiary families. Social protection and human development are government priorities, she added.
The celebration was attended by former Prime Minister Ibrahim Mahlab, several ministers including Khaled Abdel Ghaffar and Maya Morsy, as well as Ghada Waly, UNODC Executive Director, and Stephane Gimbert, World Bank Regional Director.
Al-Mashat highlighted the programme's reflection of state commitment to social justice and human capital. Government plans until 2027 aim to expand social protection, focusing on female-headed households.
The minister underscored Takaful and Karama integrates social protection with education and health. Since 2015, Egypt has mobilised approximately $1.4bn (EGP 70bn) from the World Bank, alongside technical support. The UK also provided a grant to enhance the Ministry of Social Solidarity's capacities.
These efforts have reached over 4.6m families and about 17m beneficiaries. Al-Mashat reported 51% of Takaful beneficiary families comply with health conditions, 63% with education requirements, and 100% receive cash electronically. Women constitute 75% of cardholders.
Al-Mashat confirmed $25m (EGP 1.2bn) from World Bank funding is for micro-enterprise financing. The 'Foras' (Opportunities) programme also trains beneficiaries.
The 2025/2026 budget allocates about EGP 732.6bn for social protection. Human development investments will reach approximately EGP 327bn.
Al-Mashat mentioned Egypt presented its Takaful and Karama experience at the 2025 World Bank Spring Meetings, where it was praised. She thanked early contributors Ghada Waly and Nevine El-Kabbaj, and congratulated Maya Morsy.
Prime Minister Madbouly honoured Al-Mashat and other ministers for their contributions.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Mid East Info
3 hours ago
- Mid East Info
Orient Insurance Achieves AED 503 Million Profit in H1 2025, Up 21% Amid Strong Financial Results - Middle East Business News and Information
Dubai, United Arab Emirates;August 2025 – Orient Insurance, the leading UAE insurance provider and a subsidiary of Al-Futtaim, today announced an exceptional set of financial results for the first half of 2025. The company demonstrated remarkable growth and operational excellence, underscoring its strategic focus and resilience in a dynamic market environment. Key Financial Highlights for H1 2025: • Insurance Revenue: AED 4.47 billion, up by 24% from AED 3.60 billion in H1 2024 • Net Profit After Tax: AED 503 million, representing a 21% increase from AED 416 million in H1 2024 • Total Equity: AED 5.66 billion, a 21% increase from AED 4.66 billion in H1 2024 • Total Assets: AED 16.90 billion, up by 16% from AED 14.63 billion in H1 2024 • Total investments including bank balances: AED 10.42 billion, a 24% increase from AED 8.41 billion in H1 2024 Omer Elamin, President of Orient Insurance Group, said: 'Our H1 2025 results underscore Orient Insurance's strong momentum and strategic agility. The impressive growth across the key financial metrics is a direct result of our sustained commitment to operational excellence and sound risk management. This robust performance not only reinforces our leadership position in the market but also provides us with the financial strength to pursue future growth opportunities and continue delivering exceptional value to our stakeholders.' Orient Insurance remains dedicated to leveraging innovation and a customer-first approach. The company is committed to integrating cutting-edge technologies to enhance the customer experience, optimise business processes, and create long-term value for all stakeholders. This forward-looking strategy positions Orient Insurance to continue its growth trajectory and set new benchmarks in its successful journey. About Orient Insurance: Orient Insurance, established in 1982, is a leading provider of comprehensive insurance solutions in the UAE and the wider GCC region. Part of the Al-Futtaim Group, the company offers a wide range of personal and commercial insurance products, underpinned by a strong financial base, innovative solutions, and exceptional customer service. About Al-Futtaim: Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Operating across 18 countries in the Middle East, North Africa and Asia, the Group spans key sectors including automotive, financial services, real estate, retail, and health. Al-Futtaim's work is driven by a clear purpose: to enrich lives and elevate communities through practical, forward-looking solutions. Employing a workforce of nearly 33,000 people, Al-Futtaim represents a portfolio of over 200 of the world's most recognised and trusted brands, including Toyota, Lexus, IKEA, ACE, Marks & Spencer, and many more. With a strong focus on digital innovation and artificial intelligence, sustainable growth, strategic partnerships, and empowering its people, Al-Futtaim's approach is anchored in long-term value creation. Its integrated business model positions the Group as a reliable partner to stakeholders—supporting customers, communities, and collaborators alike in navigating the needs of today while planning for tomorrow. Underpinned by the values of respect, excellence, collaboration, and integrity, Al-Futtaim continues to build a legacy that reflects its responsibility to people, progress, and the planet.


Daily News Egypt
9 hours ago
- Daily News Egypt
Madinet Masr launches Talala in New Heliopolis with EGP 90bn investments
Madinet Masr, one of Egypt's leading urban community developers, has announced the launch of its latest flagship project, Talala, in New Heliopolis City, with total investments of EGP 90bn. The project is projected to generate estimated sales of EGP 202bn, underscoring the company's commitment to supporting and developing the Egyptian economy through the creation of sustainable, integrated communities with high added value. Strategically located in the heart of New Heliopolis City, Talala spans two adjacent land plots with a combined area of 491.41 feddans (2,064,065.16 sqm). The development will be executed in two phases: Phase One covering 246.31 feddans and Phase Two covering 245.12 feddans. The first phase will comprise 4,174 fully finished residential units, offering a diverse range of options. These include standalone villas ranging from 180 sqm to 287 sqm, townhouses of 175 sqm, double-loaded townhouses of approximately 170 sqm, S-Villa units ranging from 215 sqm to 245 sqm, and apartments ranging from 35 sqm to 170 sqm. Delivery of the units is scheduled within 4.5 years. Commenting on the launch, Abdallah Sallam, President and CEO of Madinet Masr, said: 'The launch of Talala reflects our long-standing vision of developing sustainable, integrated communities that combine quality, luxury, and global standards to meet diverse customer needs. Building on over 66 years of legacy, the project also includes administrative and retail spaces, a clubhouse for sports and social activities, and a university offering high-quality education—reinforcing our commitment to innovation, expansion, and making a positive impact on Egypt's real estate market.'


Daily News Egypt
10 hours ago
- Daily News Egypt
Al-Sisi: Arab region faces unprecedented challenges, Egypt firm in support for Gaza
Egyptian President Abdel Fattah Al-Sisi has said the Arab world has faced exceptional challenges since 2011, stressing that Egypt's foreign policy is rooted in balance, non-interference, and respect for the sovereignty of states. Speaking during a pre-dawn visit to the Egyptian Military Academy at the State Strategic Command Center in the New Administrative Capital, Al-Sisi warned of attempts to sow division among Arab peoples through the media, describing such efforts as threats to regional stability. He reaffirmed Egypt's strong ties with Arab neighbours and stressed that Arab national security is indivisible. 'Any foreign intervention that destabilises Arab states ultimately threatens Egypt's own security,' he said. On the situation in Gaza, the president reiterated that Egypt has been working since 2007 to prevent escalation, acknowledging that the Palestinian people bear the heaviest burden of conflict. He described the current destruction in Gaza as 'unprecedented' and confirmed that Egypt continues to push for a ceasefire, humanitarian aid deliveries, and negotiations for the release of hostages and detainees—despite what he called 'deliberate disinformation campaigns' targeting Egypt's pivotal role. During the visit—where he attended dawn prayers and observed morning fitness drills with academy cadets—Al-Sisi stressed the importance of national awareness amid regional and global instability. He said the academy has become a beacon for shaping resilient Egyptian men and women capable of meeting the demands of the era across state institutions. Turning to domestic affairs, Al-Sisi said Egypt currently enjoys internal stability despite overcoming serious security challenges over the past decade. He noted that the Gaza conflict has reduced revenues from the Suez Canal but stressed Egypt's commitment to continuing its economic reform agenda. He urged citizens to stand united to overcome hardships and achieve sustainable development. Addressing the influence of social media, the president said the platforms themselves are not inherently harmful, but their impact depends on how they are used. He warned against rumours and disinformation aimed at undermining public morale. Concluding his visit, Al-Sisi joined cadets for breakfast and an open discussion, highlighting the importance of both academic excellence and physical training. He called on future leaders to remain well-informed about Egypt's internal affairs, regional crises, and global developments.