2020-01-01

Circular No. (2) for the Year 2020

The Financial Regulatory Authority of Egypt, acting under Prime Minister’s Decision No. 606 of 2020 to mitigate coronavirus spread, has suspended all training courses for insurance and reinsurance brokers for one month effective March 22, 2020. The Authority simultaneously grants brokers an additional one-month extension from their registration expiry dates to complete mandatory registration update procedures. This directive aligns with national precautionary measures temporarily halting activities requiring large public gatherings.

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Financial Regulatory Authority Egypt

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Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY


Deputy Chairman of the Authority


Circular No. (2) for the Year 2020
Issued on 15/3/2020

Regarding granting insurance and reinsurance brokers an additional one-month deadline from the date of registration expiry to complete update procedures in the insurance or reinsurance brokers register

In the context of completing the state's efforts to contain the spread of the (corona) virus, and in accordance with Prime Minister's Decision No. (606) for the Year 2020, which stipulated in its first article that "In order for the state to take some precautionary measures to confront the (corona) virus, and to safeguard citizens' health, all activities requiring the presence of large gatherings of citizens or ".

The management of the Financial Regulatory Authority has therefore decided to suspend the training courses organized through the Authority's Financial Services Institute for insurance or reinsurance brokers for one month, effective from March 22, 2020.

It has also been decided to grant insurance or reinsurance brokers an additional one-month deadline from the date of registration expiry with the Authority's registers to complete registration procedures.

May God protect the country and its people,,,

Deputy Chairman of the Authority
Dr. / Rida Abdel Moeity

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Financial Regulatory Authority
Deputy Chairman of the Authority
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