Regulatory Alerts2019-01-01
Circular Letter No. 2 of 2019 Regarding Safeguards for Protecting the Rights of Members of Private Insurance Funds
The Financial Regulatory Authority (FRA) of Egypt issued Circular Letter No. 2 of 2019 to enforce compliance with Decision No. 46 of 2019 regarding the protection of clients in the non-banking financial sector. The directive mandates private insurance funds to permanently display the FRA's client protection guide and related media on their official websites and social media platforms, while also requiring them to clearly inform members how to access the guide in all financial service documents. Additionally, funds must provide a printed introductory brochure to members upon receiving any insurance benefit and prominently display an FRA-approved explanatory board detailing key protection principles at all service locations.
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