By: Fahd Omran

Cairo - Mubasher: The chairman of the Egyptian Financial Regulatory Authority (FRA) has asked insurance companies to provide their suggestions to reform the sector’s current legal framework.

Mohamed Omran said in a meeting with insurance companies and the Insurance Federation of Egypt that the FRA is currently reviewing the draft law to transform the authority from a supervising body to a risk motorizing authority.

Omran also indicated that the legislative reform must adapt to the latest technological developments to enhance the efficiency and effectiveness of the communication with insurance companies.

The FRA chairman revealed that he does not object to using the file and use policy to facilitate authorizing documents and policies.