Egypt - Final draft of unified insurance bill outlined
Tuesday, 07 30 2019, Category: Insurance and Reinsurance, Country: Egypt
A final draft of a proposed unified insurance bill has been outlined, said chairman of Egypt's Financial Regulatory Authority (FRA) Mohamed Omran Monday.
The bill is set to be reviewed by the FRA board in its next meeting, Omran said in a statement.
The bill consists of 10 chapters and 233 articles (some amended and others newly introduced) that were outlined by a number of experts in the field of insurance and related services, he added.
A public survey on the issue was taken into consideration when drafting the bill, which was then thoroughly revised by FRA experts, Omran noted.
Some articles tackle the Takaful insurance and micro-insurance, which is mainly concerned with marginalised segments of society, the FRA chairman said.