Regulatory Alerts2021-01-01
Circular No. (9) for the Year 2021
The Financial Regulatory Authority (FRA) of Egypt issued Circular No. (9) for 2021 to extend registration and renewal deadlines for insurance and reinsurance brokers and trainees amid ongoing pandemic-related emergency measures. The directive grants a two-month extension until May 31, 2021, for brokers whose March 31, 2021, deadlines expire, as well as for trainees completing their one-year training without prior registration. Additionally, the FRA mandates the continuation of remote online examinations and training courses administered through its Financial Services Institute to facilitate compliance during the crisis.
Financial Regulatory Authority FINANCIAL REGULATORY AUTHORITY
Deputy Chairman of the Authority
Circular No. (9) for the Year 2021 Issued on: 21/2/2021
Granting Trainees and Insurance or Reinsurance Brokers an Additional Deadline to Complete Registration/Renewal Procedures in the Register Maintained for This Purpose by the Authority
In the context of completing the state's efforts to contain the spread of the (Coronavirus) pandemic, and in accordance with the decisions of the Prime Minister to adopt certain precautionary measures to confront the (Coronavirus).
Following the Authority's Circular No. (2) for the Year 2021, issued on 26/1/2021, regarding granting trainees and insurance or reinsurance brokers an additional deadline to complete registration/renewal procedures in the register maintained for this purpose by the Authority, which expires on 31/3/2021.
Given the continuation of the same emergency circumstances, the management of the Financial Regulatory Authority has decided to hold training courses organized through the Authority's Financial Services Institute for trainees and insurance or reinsurance brokers, as well as to conduct examinations remotely, in addition to granting an additional deadline to trainees and insurance or reinsurance brokers as follows:
1- Granting them an additional two-month deadline for those whose renewal registration deadline for insurance or reinsurance brokers expires on or before 31/3/2021, expiring on 31/5/2021. 2- Granting them an additional two-month deadline for those whose registration deadline in the register expires (completion of a one-year training period without registration in the register) for insurance brokerage trainees at insurance companies, expiring on or before 31/3/2021, and ending on 31/5/2021. 3- Continuing to administer the ((online)) examination for those applying for registration, renewal of registration, or re-registration in the register of insurance or reinsurance brokers maintained for this purpose by the Authority.
May God protect the country and its people,,,
Deputy Chairman of the Authority Advisor / Rida Abdel Moeity
Smart Village, Building No. B-136, Giza, Egypt Postal Code: 12577 Tel.: +202 35345350 - Fax: +202 35370036 www.FRA.gov.eg
Smart Village, Building No. B-136, Giza, Egypt Postal Code: 12577 Tel.: +202 35345350 - Fax: +202 35370036 info@fra.gov.eg