Regulatory Alerts2019-01-01
Financial Regulatory Authority Board of Directors Decision No. (4) of 2019
The Financial Regulatory Authority (FRA) issued Decision No. (4) of 2019 to define the eligibility criteria and selection procedures for members of the Board of the Policyholders and Beneficiaries Guarantee Fund at Insurance Companies. The decree requires the appointment of two client representatives—one specializing in life insurance and the other in property and liability insurance—alongside three independent experts, all of whom must satisfy stringent educational, reputational, and professional experience thresholds while meeting strict conflict-of-interest and citizenship requirements. Finally, the regulation mandates publication in the Egyptian Gazette and official websites, with immediate effect from the day following its issuance.
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