Arab Finance: Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, delivered the keynote speech at the 28th African Reinsurance Forum of the African Insurance Organization (AIO), and reviewed the comprehensive reform agenda adopted and implemented by the Authority, to enhance the efficiency and competitiveness of insurance activity in Egypt and to enhance its role in increasing national savings rates.
The Chairman of the Authority also explained during his speech the accelerated action plans to implement Uniform insurance law Aiming to achieve better growth rates and increase the contribution of insurance to the gross domestic product and enhance the customer base and beneficiaries of insurance services, as well as digital transformation efforts and integration of technological applications, in addition to deepening the roots of integration and cooperation with partners from Africa to improve levels of insurance coverage so that the African citizen benefits from advanced insurance coverages provided to him. Protection from future risks and fluctuations.
Dr. Farid added that enhancing the competitive capabilities of the Egyptian insurance sector will contribute to attracting more local and foreign investments, enhance levels of insurance coverage, and achieve greater rates of stability for entities working in the insurance field, noting that digital transformation contributes to facilitating the process of access and obtaining appropriate financing for all categories. Society, which provides opportunities to expand or start an economic activity that helps improve the standard of living.
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