Regulatory Alerts2020-01-01
Board of Directors Decision No. (64) of 2020 Amending Decision No. (10) of 2015 Regarding the Committee for Reviewing Appeals and Resolving Disputes Concerning Insurance Mediation Activities
The Financial Regulatory Authority (FRA) of Egypt issued Board of Directors Decision No. 64 of 2020 to amend Article Four of its 2015 Decision governing the appeals and dispute resolution committee for insurance mediation. The revised article requires appellants to submit requests in original and five copies, detailing their identity, the contested decision, grounds for appeal, specific relief sought, and proof of an 18,000 Egyptian pound processing fee. The FRA’s General Directorate of Appeals must register and acknowledge receipt of these applications on the day of arrival, and the decision takes effect the day following its publication in the Egyptian Gazette.
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