Regulatory Alerts2021-01-01
Circular Letter No. 20 of 2021
The Financial Regulatory Authority issued Circular No. 20 of 2021 to grant a final two-month extension until September 30, 2021, for insurance and reinsurance brokers and trainees to complete registration or renewal procedures in the Authority's designated register. This extension applies to brokers whose renewals expired by August 1, 2021, and trainees who completed one year of training without registration by the same date. All insurance companies must comply with this final deadline, which coincides with the continued administration of online examinations for registration-related applications.
Financial Regulatory Authority Deputy Chairman of the Authority
Circular Letter No. (20) of 2021 Issued on: 25/8/2021 Regarding granting insurance or reinsurance brokers and trainees a deadline to complete renewal procedures in the register designated for this purpose by the Authority
In continuation of the Authority's Circular No. (11) of 2021 issued on 30/5/2021 regarding granting trainees and insurance or reinsurance brokers an additional deadline to complete registration/renewal procedures in the register designated for this purpose by the Authority, which expires on 31/7/2021.
And in light of the continued exceptional circumstances, the Financial Regulatory Authority has decided to grant a final additional deadline to trainees and insurance or reinsurance brokers to complete registration/renewal procedures in the register designated for this purpose by the Authority, as follows: -
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An additional two-month deadline expiring on 30/9/2021 for insurance or reinsurance brokers whose registration renewal expires up to 1/8/2021.
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An additional two-month deadline expiring on 30/9/2021 for those whose registration period in the register expires (completion of a one-year training without registration in the register), specifically insurance brokerage trainees at insurance companies up to 1/8/2021, expiring on 30/9/2021.
This is while continuing to administer the (online) examination for those applying for registration, renewal of registration, or re-registration in the insurance or reinsurance brokers register designated for this purpose by the Authority.
With this deadline considered final for completing all required procedures by insurance brokers and trainees, and all insurance companies are to note this and comply with the aforementioned deadline.
May God protect the country and its people,,, Deputy Chairman of the Authority Advisor / Rida Abdul Muaty
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