Chairman of the Board of Directors

Decision No. (40) for the Year 2016

Dated 2016/9/26

Regarding Controls for Websites of Insurance and Reinsurance Companies and Brokers

on the Internet

Chairman of the General Authority for Financial Supervision

Having reviewed Law No. 10 of 1981 regarding supervision and oversight of insurance in Egypt and its executive regulations,

and Law No. 10 of 2009 regulating oversight of non-banking financial markets and instruments,

and Presidential Decision No. 192 of 2009 issuing the Statute of the General Authority for Financial Supervision,

and Authority Board Decision No. (23) of 2014 regarding rules governing the practice of insurance brokerage within the Arab Republic of Egypt,

and Authority Board Decision No. (122) of 2015 regarding the regulation of issuance and distribution by insurance companies of certain insurance policies electronically through information system networks,

and the two memoranda prepared by the Central Department for Financial Product Approval dated 2016/8/21 and 2016/09/04.

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Decided

Article One

The controls set forth in this Decision shall apply to websites on the Internet belonging to registered insurance and reinsurance companies and associations with the General Authority for Financial Supervision (hereinafter referred to as the "Company") and registered insurance and reinsurance brokers (hereinafter referred to as the "Broker").

For the purposes of this Decision, "website" refers to the informational or marketing interface of the Company or Broker on the Internet containing textual and/or promotional or advisory materials that introduce the services provided by the Company or Broker and promote transactions with or through them. This excludes cases of electronic issuance and distribution of standard insurance policies regulated by Authority Board Decision No. (122) of 2015.

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Article Two

The Company or Broker shall be obligated to obtain prior approval from the Authority before launching a website pertaining to them on the Internet. A copy of the electronic content intended to be displayed on the website shall be attached to the request.

Requests in this regard shall be submitted to the Permanent Technical Secretariat "Committee for Content and Electronic Affairs of Insurance and Reinsurance Companies and Brokers".

The Authority shall be obligated to issue its opinion on the submitted request within a period not exceeding two weeks from the date of submission and completion, otherwise it shall be deemed approved.

In all cases, the Authority reserves the right to withdraw its approval in the event of non-compliance with the obligations stipulated in Articles Three and Four of this Decision.

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Article Three

The Company or Broker shall be obligated to comply with the following regarding any website pertaining to them, whether established and managed by themselves or by a third party:

• a. No more than one website may be established for a single Company or Broker.

• b. The Company's or Broker's website shall not be used for purposes other than those approved by the Authority, namely providing informational or marketing content about the Company or Broker, and guidelines and awareness materials related to insurance.

• c. The website must include all data pertaining to the Company or Broker within the scope of the license issued to them by the Authority, as stipulated in Attachment No. (1) / Second of Authority Decision No. 23 of 2014.

• d. The content shall not include data, information, graphics, or formats that contradict the provisions of Law No. 10 of 1981 or its executive regulations, or any decisions issued by the Authority to implement them, or the license issued to the Company or Broker.

• e. The information and data contained in the website must be updated in light of amendments to insurance-regulating legislation or Authority decisions in this regard.

• f. In the event email is used to send messages containing promotional or marketing content about the Company or Broker to clients registered on the website, the Company or Broker must comply with the content obligations for such messages under the controls stipulated in clauses (b), (c), and (d) above, and must send them from an email address matching the website's domain name.

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Article Four

The registered website address with the Authority shall not be changed without notifying the Authority. In the event the website is hacked by a third party or subjected to cyberattacks, the Company or Broker must take necessary measures to protect its users and notify the Authority thereof.

The Company or Broker may close the website, provided that the Authority is notified thereof within two weeks. In the event of wishing to reactivate it or create another website, the same procedures stipulated in this Decision shall apply.

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Article Five

The Company or Broker, in the event of creating or using social media pages related to their business, must comply with the content obligations for material displayed or published by them on such pages under the controls stipulated in clauses (b), (c), (d), and (e) of Article Three of this Decision.

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Article Six

The Company or Broker having a website on the Internet shall align their operations with the provisions of this Decision within a period not exceeding December 31, 2016.

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Article Seven

This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall take effect from the day following its publication, with competent departments responsible for implementing their respective parts.

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Chairman of the Authority

Sherif Samy

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General Authority for Financial Supervision

Egyptian Financial Supervisory Authority

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Smart Village, Building 85 - 86 B

Km 28, Cairo/Alexandria Desert Road

Giza Governorate, Postal Code: 12577

Tel: (+202) 25370040 - Fax: (+202) 25345333

Email: info@efsa.gov.eg

Website: www.efsa.gov.eg