The Chairman of the Egyptian Financial Supervisory Authority (EFSA), Ashraf El-Sharkawy met with the chairmen of insurance companies last Tuesday discussing many important issues such as the possible methods of boosting the Takaful insurance activity in Egypt, new insurance covers and suggestions of improving the insurance market.
El-Sharkawy emphasized the importance of insurance sector in boosting national economy and creating job opportunities. The meeting took up the possible methods of developing Takaful insurance in Egypt and innovating insurance products which cater to the requirements of Egyptians especially for micro, small and medium enterprises.
Increasing the insurance sector’s contribution to GNP will be through implementing the reform plan and updating the regulating standards, El-Sharkawy confirmed.
The meeting participants affirmed the importance of improving the staff’s qualifications through the Egyptian Financial Services Institute and settling the disputes between insurers and the insured.
