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الوقائع الإخبارية
Government plans to unify insurers
The Cabinet approved an amended draft regulation for the Insured Persons’ Guarantee Fund aimed at strengthening the stability of the insurance sector and enhancing preventive supervision to reduce the risk of company insolvencies. The new regulation focuses on encouraging mergers between financially strong companies and their weaker counterparts to ensure the continuity of service provision. It also offers financial incentives such as reductions or exemptions from contributions to the fund, as determined by the Central Bank to ensure efficient resource management. These measures aim to boost public confidence in the insurance sector and promote market sustainability, aligning with the Economic Modernization Vision to improve the investment environment.
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