FINANCIAL REGULATORY AUTHORITY

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Decision No. (1565) of 2023
Issued on: 11/6/2023

Regarding the Reconstitution of the Committee for Studying Preliminary Approval Requests to Convert Takaful Insurance Companies to Commercial Insurance

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Chairman of the Financial Regulatory Authority Having reviewed Law No. 10 of 1981 on Supervision and Control of Insurance in Egypt, its executive regulation, and amendments; Law No. 10 of 2009 on Regulating Supervision over Non-Banking Financial Markets and Instruments; Presidential Decree No. 192 of 2009 Issuing the Statute of the Financial Regulatory Authority; Chairman's Decision No. 1564 of 2023 Regarding the Reconstitution of the Committee for Studying Preliminary Approval Requests to Convert Takaful Insurance Companies to Commercial Insurance; Chairman's Decision No. (1528) of 2023 Determining the Competencies of Dr./ the Chairman, Deputies, and the Human Resources Committee;

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Has Decided

(Article One)

A Committee for Studying Preliminary Approval Requests to Convert Takaful Insurance Companies to Commercial Insurance is formed, chaired by Prof. Dr./ Aslam Azzam – Deputy Chairman of the Authority, and comprising:

• Adv./ Reda Abdel Moeity
• Dr./ Adel Mohamed Hussein
• Dr./ Mahmoud Samaha
• Prof./ Hatem Mohamed Nour El-Din
• Prof./ Mustafa Ahmed Khalil
• Prof./ Mona Mohamed Kamel
• Prof./ Mustafa Sadek
• Prof./ Abdel Aziz Monae
• Prof./ Hany Abdel Latif

Senior Advisor to the Chairman (Deputy Committee Chair) Head of the Central Administration for Supervision and Control of Insurance Companies Head of the Central Administration for Supervision and Control of Private Insurance Funds Head of the Central Administration for Company Establishment and Licensing General Manager for Company Audits (1) General Manager for Insurance Companies Audits (2) General Manager of the General Administration for Brokerage Companies Audits Supervisor of the Company Audit Working Group (3) Department Manager within the General Administration for Insurance Companies Audits (1)

The Committee's Rapporteur is Prof./ Radwa Enis Ahmed, and Prof./ Merfat Ahmed Sayed from the Central Administration for Supervision and Control of Insurance Companies.

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(Article Two)

The application of Chairman's Decision No. (1564) of 2023 is hereby repealed from the date of issuance of this Decision.

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(Article Three)

This Decision shall be implemented as of its issuance date, and the competent authorities and administrations shall execute it within their respective jurisdictions.

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Chairman of the Board
Financial Regulatory Authority
Dr. Mohamed Fared Saleh

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ARAB REPUBLIC OF EGYPT
FINANCIAL REGULATORY AUTHORITY

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