Egypt – Revolution in insurance awareness with financial supervision
Saturday, 10 24 2015, Category: Insurance and Reinsurance, Country: Egypt
Mr. Ahmad Najib the president of the Egyptian Association for the Development of Insurance Awareness confirmed that the Egyptian Financial Supervisory Authority considered that the last year 2014 was the year of insurance in Egypt since it witnessed rapid changes in reforming the insurance law and drafting the new insurance law. The Authority also decided to develop all the financial sectors of the country according to the requirements of the market in order to initiate a revolution in all the sectors that fall under its supervision and in order to prove that Egypt is the leader of insurance in the Arab world.
Mr. Najib said that the Authority organized a series of seminars, workshops, training sessions and conferences and it also finalized the changes on the executive laws of the reform of law No 10 of year 1981, as well private investment laws, all aspects of insurance companies and health insurance. I also took all the measures to promote the Takaful insurance market and develop the insurance coverages that meet the needs of the Egyptian market especially the mid-sized, small projects, and micro-projects which will support insurance awareness in order to boost growth rates and the gross domestic product.
Source: Veto Gate