Egypt – Draft law submitted to government before year end 2015
Wednesday, 11 04 2015, Category: Insurance and Reinsurance, Country: Egypt
The Chairman of the Egyptian Financial Supervisory Authority said that the Authority will submit to the council of ministers before year end a new law which it is currently finalizing.
Mr. Sherif Samy revealed in the Reuters Middle East Investment conference that the new law aims at developing the size of the insurance market by introducing new products and protecting policyholders’ rights.
And he said that the “new law will be rather concise which will give us leeway for further amendments in the future. The current law does not address Takaful business that is the reason to introduce new regulations”.