Regulatory Alerts2023-01-01
Decision No. 467 of 2023 Regarding the Reconstitution of the Insurance Products Approval Committee
The Financial Regulatory Authority (FRA) issued Decision No. 467 of 2023 to formally reconstitute the Committee for Approving Insurance Products, appointing Dr. Islam Azzam as chair and specifying seven additional committee members alongside a technical secretary. The decree mandates the newly formed committee to evaluate and approve applications for life, property, liability, and micro-insurance products, as well as banking insurance marketing contracts and Egyptian Insurance Union meeting minutes. Effective immediately upon issuance on June 11, 2023, this decision supersedes prior decrees and establishes a biweekly meeting schedule to ensure continuous oversight of product launches in the Egyptian insurance market.
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