Regulatory Authority Updates Microfinance Insurance Rules
The General Authority for Financial Regulatory decided to amend the insurance contract templates for clients of consumer and microfinance. New clauses have been added to specify the risks not covered by the insurance, including criminal acts by the beneficiary, radioactive and chemical pollution, HIV/AIDS injuries prior to the start of the insurance, as well as acts of war and armed conflicts. This move responds to Law No. 155 of 2024 and is implemented in accordance with Board of Directors decisions No. 27 and 28 of 2026. The aim is to organize insurance coverage and promote transparency in financing services. The decision becomes effective from the day following its publication in the Official Gazette. Its purpose is to clarify the boundaries of coverage exclusions to ensure the protection of clients' rights and financial interests.
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