Regulatory Alerts2018-01-01
Decision of the Chairman of the Authority No. (24) of 2018 Regarding Reducing the Duration for Completing Registration Procedures in the Insurance Brokers Register of the Authority
The Financial Regulatory Authority (FRA) of Egypt issued Decision No. (24) of 2018 to streamline insurance broker registration procedures and accelerate licensing timelines. The mandate requires the Central Administration for Market Services to forward complete broker registration applications to the licensing administration on the same day of receipt, while competent departments must finalize all registration records within five days of submission. Furthermore, the licensing administration must formally notify brokers or requesting entities of the registration decision within two working days of completing the process, thereby reducing administrative delays and aligning with the Authority's regulatory simplification objectives.
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