Board of Directors Secretariat

Decision of the Board of Directors of the Financial Regulatory Authority

No. (79) of 2017 dated 6/6/2017
Amending Decision No. (132) of 2015 Regarding the Regulation of Electronic Issuance and Distribution of Certain Standard Insurance Policies by Insurance Companies through Information Systems Networks

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The Financial Regulatory Authority Board

Having reviewed the Law No. 10 of 1981 on Supervision and Regulation of Insurance in Egypt and its amendments; and the Law No. 15 of 2004 on Regulating Electronic Signatures in Egypt; and the Law No. 10 of 2009 on Regulating Supervision over Non-Banking Financial Markets and Instruments; and the Statute of the Financial Regulatory Authority issued by Presidential Decree No. 192 of 2009; and Decision No. (132) of 2015 Regarding the Regulation of Electronic Issuance and Distribution of Certain Standard Insurance Policies by Insurance Companies through Information Systems Networks; and the memorandum of the Honorable Advisor, Vice Chairman of the Authority, dated 4/6/2017; and the approval of the Authority's Board of Directors in its meeting No. (6) dated 6/6/2017.

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Has Decided

(Article One)

The following text replaces paragraph (a) of Article Five of the aforementioned Board of Directors Decision No. 132 of 2015:

"a – No disciplinary measures or penalties stipulated under Law No. 10 of 1981 shall have been taken against the company or its actual manager, unless the grounds for such measures are removed or the penalty is served and at least three months have elapsed since then."

(Article Two)

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 date, and the competent departments are tasked with its implementation.

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Chairman of the Authority
Sherif Samy

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