Int'l Schools Prohibited from Collecting Fees in Foreign Currency
Excessive profits by schools will be reported to the Supreme Committee for International Schools Affairs.
The Minister of Education and Technical Education, Dr. Reda Hegazy, has taken action in response to complaints received by the General Administration of Private and International Education at the Ministry. Concerns were raised by parents about certain international schools charging excessive fees for accrediting international certificates in various curricula, such as American, British or French, and sometimes collecting payments in foreign currency.
In Circular No. 4 for the year 2024, the Minister has prohibited the collection of any expenses in foreign currency for accrediting international certificates. This decision is in line with the Central Bank of Egypt (CBE) and aims to prevent violations of these regulations. Any school found in violation of this prohibition will be referred to the Public Funds Prosecution, where penalties outlined in the CBE and Currency Law and its executive regulations will be applied.
Furthermore, the decision states that if it is proven that a school is profiting from collecting amounts exceeding the legally approved limits, it will be referred to the Supreme Committee for International Schools Affairs. The school will then be placed under financial and administrative supervision, potentially leading to escalated penalties and the consideration of revoking its license.
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