FINANCIAL REGULATORY AUTHORITY

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Chairman of the Authority

Decision No. (1478) for 2023

Date: 11/6/2023

Regarding the Reconstitution of the Committee for Examining and Reviewing Licensing Applications for Establishing New Private Insurance Funds and Requests to Amend Their Bylaws

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Chairman of the Financial Regulatory Authority Having reviewed Law No. 54 of 1975 concerning Private Insurance Funds and its Executive Regulations, including amendments; and Law No. 10 of 1981 concerning Supervision and Regulation of Insurance in Egypt, issued by law, and its Executive Regulations; including amendments; and Law No. 10 of 2009 concerning the Regulation of Supervision over Non-Banking Financial Markets and Instruments, issued by law; and Presidential Decision No. 192 of 2009 issuing the Basic System of the Financial Regulatory Authority; and Chairman's Decision No. (1553) for 2022 regarding the reconstitution of the committee for examining and reviewing licensing applications for establishing new private insurance funds and requests to amend their bylaws; and Chairman's Decision No. (1528) for 2022 regarding the determination of competencies of Dr./the Chairman and his assistants, departments and assistants; and the Authority's Staff Affairs Regulations; and the memorandum of the Central Administration for Supervision and Regulation of Private Insurance Funds,

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Has Decided

Article One

A committee is formed to examine and review licensing applications for establishing new private insurance funds and requests to amend their bylaws, chaired by Dr./Prof. Salam Azzam – Deputy Chairman of the Authority, and comprising:

• Advisor/Reda Abdel Moeity – Senior Advisor to the Chairman (Deputy Committee Chair)
• Dr./Mahmoud Samaha – Head of the Central Administration for Supervision and Regulation of Private Insurance Funds
• Dr./Adel Mohamed Hussein – Head of the Central Administration for Supervision and Regulation of Insurance Companies
• Mr./Tarek Imam Sayed Mosa – General Manager of the Public Administration for Licensing Private Insurance Funds
• Mr./Youssef El-Saeed Ahmed – General Manager of the Civil and Economic Cases Department at the Central Legal Affairs Administration
• Mr./Ahmed Yasser Kamel – Electronic Expert at the Public Administration for Electronic Expertise
• Ms./Eman Ali Gamal El-Din – General Manager of the Public Administration for Private and Government Insurance Funds

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Article Two

The committee is tasked with studying and reviewing the responses of competent administrations regarding licensing applications for establishing new private insurance funds or amending the bylaws of existing funds.

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Article Three

The committee convenes upon the invitation of its chairman, and a quorum is valid only with the presence of its chairman or deputy and committee chair. It may invite those it deems necessary, from within or outside the Authority, to attend its meetings as required, and the committee prepares a minutes document. Containing the results and recommendations, it is submitted to Dr./Prof. the Committee Chair for approval.

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Article Four

The implementation of Chairman's Decision No. (1553) for 2022 is repealed as of the effective date of this decision.

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Article Five

This decision shall be implemented as of its issuance date, and the competent administrations are tasked with its execution.

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

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Smart Village, Building 136, Giza, Egypt
Postal Code: 110
Telephone: +202 3754530
Fax: +202 3537006
WWW.FRA.GOV.EG

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