Egypt – Finalization of insurance law
Monday, 11 20 2017, Category: Insurance and Reinsurance, Country: World
Dr. Mohammed Omran, the Chairman of the Egyptian Financial Supervisory Authority said that the Authority is currently reviewing the final amendments dot Law No 10 of year 1981 in light of the adoption of a risk-based framework that follows the international regulatory standards.
Dr. Omran made this statement when he met Egyptian insurance companies in the presence of the Deputy Chairman of the Authority Mr. Reda Abdel Moaty and the president of the Insurance Federation of Egypt since the Authority is keen on communicating with the Egyptian insurance market and debating important issues in order to overcome obstacles and boost the insurance contribution to GDP, which is currently low at 1.3%.
Source: Al Wafd