Regulatory Alerts2015-01-01
Decision of the Chairman of the Egyptian Financial Supervisory Authority No. (72) of 2015 Regarding the Model Articles of Association for Private Insurance Funds
The Egyptian Financial Supervisory Authority issued Decision No. 72 of 2015 to establish a standardized model Articles of Association for Private Insurance Funds. The decision mandates that existing funds amend their governing documents to align with the new model within six months, while requiring founders to obtain prior regulatory approval for any deviations or additions. It further outlines mandatory membership conditions, contribution payment rules, termination procedures, and a framework for disbursing actuarially determined insurance benefits.
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