Cairo – Mubasher: The Egyptian Financial Regulatory Authority's (FRA) Chairman, Mohamed Omran, has welcomed the Prime Minister's decision no. 1968 of 2021 for the appointment of Samaa Mohamed Sadek as a Chairperson of the government fund for covering damages resulting from rapid transit vehicle accidents, known as Hit-and-Run Accident Fund, for a four-year term. 

Sadek will be the first woman to hold his position since the fund was established under law no. 72 of 2007, according to a statement on Monday. 

The fund pays up to EGP 40,000 in compensation for death or total disability caused by hit-and-run road accidents, without the need to resort to court. 

Sadek held several leading positions at the FRA, including the Head of the Central Administration for Investor Protection and Awareness and the Head of the Central Administration for Government Insurance Fund Supervision and Control.