Kuwait – “Ministry” linked electronically to insurance sector
Tuesday, 04 18 2017, Category: Insurance and Reinsurance, Country: Kuwait
Informed sources revealed that the Ministry of Commerce & Industry invited all insurance companies operating in the local market to register in the electronic portal of the ministry in order to enable the electronic transfer of information between the companies and the ministry, which will contribute to the quick interaction between the two parties and achieve the targeted goal.
The memo indicates that the development of the electronic insurance portal at the Ministry of Commerce & Industry will help save the financial statements of insurance companies and produce the needed financial and statistical analyses easily as well as easing administrative procedures, thereby improving the operating environment in Kuwait. The activities of insurance companies witnessed a great development at the ministry as regulations were drafted noting that a new law is expected to introduce a new era in the sector.
Source: Al Qabas