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Initial Parliamentary Action on Fake School Loans
The incident involving the chairman of the board of an international school in New Cairo obtaining credit facilities and loans in the names of parents without their knowledge or approval reveals a lapse in oversight regarding financial transactions within private and international schools. A total of 839 contracts were signed, amounting to approximately 321 million Egyptian pounds, based on data and signatures attributed to the parents, leading to financial obligations on their part without their request or consent. The parliamentarians called for a comprehensive review of the data protection and financial transaction system, emphasizing the need to secure verified digital approval before issuing any credit commitments in the name of an individual. They also stressed the importance of taking legal measures to protect families and prevent the recurrence of such violations.
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