Central Bank Instructions No. 6 of 2022 Regarding Service Fees

Instructions No. (6) of 2022
Instructions on Service Fees

Article (1):
These Instructions shall be known as the "Service Fees Instructions for the Year 2022" and are issued pursuant to the provisions of Paragraph (c) of Article (95) and Paragraph (b) of Article (109) of the Insurance Activities Regulation Law No. (12) of 2021. They shall be effective from 31/3/2022.

Article (2):
The words and phrases contained in these Instructions shall have the meanings assigned to them in the Insurance Activities Regulation Law No. (12) of 2021 and the systems and instructions issued thereunder.

Article (3):
The Central Bank shall collect the following service fees for each of the following:

• A. Ten dinars for the issuance by the Central Bank of any certificate.
• B. Ten dinars for the certification by the Central Bank of any document.

Article (4):
The Central Bank shall collect the following service fees from insurance service providers who have applied for any of the services stipulated in this Article:

• A. Twenty-five dinars for the review of an application for the approval of a senior employee, an employee acting on behalf of a legal entity, or an employee who will perform banking insurance activities.
• B. Fifty dinars for the review of an application for the approval of the General Manager of a legal entity or one of its managers, or for the review of an application for the approval of the Manager overseeing the management of banking insurance activities.
• C. Twenty-five dinars for the review of an application to add any insurance branch to the license granted to an agent, broker, loss adjuster, or surveyor.
• D. Fifty dinars for the review of an application to add any insurance branch to the license granted to a reinsurance broker, underwriting agent, consultant, or bank practicing banking insurance activities.
• E. Twenty-five dinars for the review of an application for the approval of a senior employee, an employee acting on behalf of a legal entity, or an employee practicing banking insurance activities for additional insurance branches after obtaining approval.
• F. Fifty dinars for the review of an application for the approval of the General Manager of a legal entity or one of its managers, or the Manager overseeing the management of banking insurance activities for additional insurance branches after obtaining approval.
• G. Twenty-five dinars for the review of an application to open branches for an insurance service provider, excluding banks practicing banking insurance activities.
• H. Twenty-five dinars for the request to take any exam or assessment conducted by the Central Bank.
• I. Fifty dinars for re-registration in the Central Bank's records.

Article (5):
The Governor shall issue the necessary decisions to implement the provisions of these Instructions.

Article (6):
The Service Fees Instructions No. (10) of 2004 and its amendments are hereby repealed.

Board of Directors of the Central Bank