Regulatory Alerts2022-09-11
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Decision of the Chairman of the Financial Regulatory Authority No. (1549) for the Year 2022
The Financial Regulatory Authority of Egypt issued Decision No. (1549) for 2022 to liquidate the operations of Al-Motahida for General Insurance Company. The decision appoints Dr. Ahmed Mostafa Shouky as liquidator and establishes a three-member supervisory committee to oversee the process. It sets a six-month liquidation period, fixes the liquidator's remuneration at 100,000 Egyptian pounds (excluding VAT), and mandates publication in the Official Gazette and on the Authority's website.
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