ArabFinance: Khales, e-finance for Digital and Financial Investments’ (EFIH) retail arm, has obtained the approval of the Financial Regulatory Authority (FRA) to be registered as an e-payment collection company for insurance installment fees, according to a press release.

Accordingly, this will enable the collection of Decent Life’s insurance installment through Khales’ retail network, which includes 13 strategic partners and over 330,000 points of sale (PoS) across the country.

This marks e-finance’s first milestone in the digital transformation for the insurance industry.

Through its strategy, Khales seeks to digitalize the non-banking financial services and to contribute to Egypt Vision 2030 by supporting digital transformation and achieving financial inclusion.

During the events of Cairo ICT, Khales entered an agreement with Misr Insurance Company to offer monthly collection solutions for the insurance policy of Decent Life that covers up to EGP 100,000 for the insured.

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