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  • Insurance Authority’s Broad of Directors’ Decision No. (19) of 2020 Concerning the Guidance Manual for Insurance Companies and Related Professions to Submitting the Data, Information & Supervisory Reports

    Effective from 30/4/2020

    The Chairman of the Board of Directors of the Insurance Authority,

    1. - Raving reviewed Federal Law No. (6) of 2007 Concerning Establishment of the Insurance Authority and Organization of the Insurance Operations and its Executive Regulations.
    2. - Federal Decree No. (20) of 2018 Concerning Anti Money-Laundering and Terrorist Financing and Financing of Illicit Organizations.
    3. - Cabinet Resolution No. (10) of 2019 Concerning the Executive Regulations of the Federal Decree No. (2) of 2018 Concerning Anti Money-Laundering and Terrorist Financing and Financing of Illicit Organizations.
    4. - Cabinet Resolution No. (20) of 2019 Concerning Executive Regulations for Terrorist Lists and applying United Nations Resolutions concerning Preventing and Suppressing Terrorism and its Funding and Preventing Arming and its funding and the Related Decisions,

    And based on the proposal of the Director General of the Insurance Authority and approval of the

    Board of Directors of the Authority,

    Has resolved:

    • Article (1)

      This Decision is applicable to all Insurance Companies established in the State and all Branches of foreign Insurance Companies licensed to operate in the State through a Branch or through an Insurance Agent, and Insurance Related Professions, in the context applicable to their nature.

      The Guidance Manual and the forms attached to this decision shall form an integral part thereof.

    • Article (2)

      Insurance Companies and Related Professions are committed to submitting the data, information and reports during the period of time specified by the Director General, and using the electronic means adopted by the Insurance Authority.

    • Article (3)

      The Director General shall issue the decisions and circulars to apply this Decision.

    • Article (4)

      This Decision shall be published in the Official Gazette, and shall come into force after three months of its publication.