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Egyptian Cooperative Insurance Society (CIS) says it has signed a cooperation protocol with the Union National Bank-Egypt (UNB) to cover the lender’s loans granted to the clients.
“The society will cover the risks of non-payment of UNB’s loans at a total sum insured up to 30 million Egyptian pounds ($1.8 million) for each client,” CIS’s managing director Anwar Zekri told Amwal Al Ghad on Monday.
Moreover, CIS is planning to post premiums worth 230 million pounds within the financial year 2019/2020.
