Damascus-SANA
In implementation of Law No. 8 of 2021 related to the establishment of microfinance banks and allowing them to provide insurance services, the Insurance Supervisory Authority developed its decisions related to marketing insurance through these banks, as the number of insurance policies that were sold through the issuance outlets of insurance companies opened within microfinance banks reached About 3 thousand documents during the past six months.
In a statement to SANA reporter, the Director General of the Insurance Supervisory Authority, Dr. Rafid Muhammad, explained that with the aim of marketing and selling insurance products, the authority oversaw the signing of many agreements between the Syrian General Insurance Corporation, the People’s Credit Bank, the Syrian Commercial Bank, and the Savings Bank, as well as between private insurance companies, private banks, and private banks. Microfinance to sell insurance products.
Muhammad stressed that the agreements signed with banks operating in Syria contributed to the increase in the total number of insurance policies that were marketed and sold through the issuance outlets of insurance companies open within all banks to more than 15 thousand documents during the past six months.
The Authority continues to support all components of the insurance market, with the aim of strengthening its role and the role of insurance services in society, bringing about the required development, and creating new insurance products that suit the needs of society and methods of marketing them, according to what Muhammad indicated. Monitor compliance with legislation, regulations, instructions and insurance contracts.
Wassim Al-Adawi
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