The Ministry of Education on Tuesday asserted its support for private and international education investment, provided that they respect relevant laws in Egypt.

In a statement released on Tuesday, the Ministry said collecting school fees of such schools should be paid in the local currency, in implementation of the laws of the Central Bank of Egypt and the banking sector in this regard. 

CBE and the banking sector laws have necessitated dealing in the local currency to carry out any operations for purchase or selling of any commodity or payment of school fees.

Violators of such laws are subject to prison sentences ranging from three to 10 years and a fine ranging from EGP one to five million, said the statement.

The statement also reiterated that all school fees sould be subject to the rates approved by the Ministry of Education and its affiliate directorates without any increase under a pretext of increase in exchange rate of the dollar to the Egyptian pound.