Egypt – Proposal to assign insurance disputes to economic tribunals
Wednesday, 03 30 2016, Category: Insurance and Reinsurance, Country: Egypt
The Board of the Egyptian Financial Supervisory Authority proposed amending the economic tribunal law in order to enable commercial tribunals to solve insurance disputes and lawsuits.
Mr. Sherif Samy chairman of the Authority said in a statement on Sunday that bancassurance laws habe been amended in order to allow the same bank to deal with commercial insurance companies and Takaful companies at the same time.
The Chairman of the Authority added that the board established a new department that will oversee reinsurance affairs and it approved its qualifications.
Source: Mubasher Info