Egypt – Compulsory insurance on small loans
Thursday, 06 28 2018, Category: Insurance and Reinsurance, Country: Egypt
Under a new initiative of the Egyptian Financial Supervisory Authority, life insurance is to become compulsory for beneficiaries of micro-loans in order to expand the social safety net. The goal is to insurance against the risk of death in a sector that covers 2.4 million citizens for a total finance credit of EGP 8.4 billion as at the end of the first quarter of year 2018.
Source: Veto Gate