{"id":646436,"date":"2017-06-14T03:51:28","date_gmt":"2017-06-14T03:51:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/"},"modified":"2017-06-14T03:51:28","modified_gmt":"2017-06-14T03:51:28","slug":"new-insurance-act-still-in-the-drafting-stage","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/","title":{"rendered":"New Insurance Act still in the drafting stage"},"content":{"rendered":"

<\/a> Speaking of EFSA, the regulator has for some time now been drafting a new <\/strong>Insurance Act<\/strong> that could potentially encompass car insurance and private insurance funds as well, EFSA chief Sherif Samy told the press on Tuesday<\/a>. The bill will also aim to turn state insurance funds into autonomous bodies under the supervision of the Finance Ministry and EFSA. It could be a while before we see this piece of legislation move forward, Samy notes. The draft has outlasted \u201cthree presidents and prime ministers and four investment ministers\u201d and still not come to final form. Until then, the EFSA and Investment Ministry plan to issue temporary amendments to the current Insurance Act\u2019s executive regulations to complement others issued last year<\/a>.<\/p>\n

Background: <\/strong>The EFSA had announced plans last year<\/a> to reshape the laws governing the insurance industry that would outline new requirements for professionals working in the field, set corporate governance requirements, and make EFSA the sole regulator of the industry by phasing out the Insurance Supervisory Authority (ISA).<\/p>\n","protected":false},"excerpt":{"rendered":"

Speaking of EFSA, the regulator has for some time now been drafting a new Insurance Act that could potentially encompass car insurance and private insurance funds as well, EFSA chief Sherif Samy told the press on Tuesday. The bill will also aim to turn state insurance funds into autonomous bodies under the supervision of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646436","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e16d4916-a24a-4c61-a0fd-afd6259b7ece","order":"0","is_powered_by":true,"section_story_id":"d52cd331-7f2f-413e-9533-4b7ffc51d5bf","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646426],"teaser":"","voice_url":""},"yoast_head":"\nNew Insurance Act still in the drafting stage - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Insurance Act still in the drafting stage\" \/>\n<meta property=\"og:description\" content=\"Speaking of EFSA, the regulator has for some time now been drafting a new Insurance Act that could potentially encompass car insurance and private insurance funds as well, EFSA chief Sherif Samy told the press on Tuesday. The bill will also aim to turn state insurance funds into autonomous bodies under the supervision of the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-14T03:51:28+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New Insurance Act still in the drafting stage\",\"datePublished\":\"2017-06-14T03:51:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\"},\"wordCount\":177,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\",\"name\":\"New Insurance Act still in the drafting stage - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-06-14T03:51:28+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Insurance Act still in the drafting stage\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New Insurance Act still in the drafting stage - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/","og_locale":"en_US","og_type":"article","og_title":"New Insurance Act still in the drafting stage","og_description":"Speaking of EFSA, the regulator has for some time now been drafting a new Insurance Act that could potentially encompass car insurance and private insurance funds as well, EFSA chief Sherif Samy told the press on Tuesday. The bill will also aim to turn state insurance funds into autonomous bodies under the supervision of the […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2017-06-14T03:51:28+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"New Insurance Act still in the drafting stage","datePublished":"2017-06-14T03:51:28+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/"},"wordCount":177,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/","url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/","name":"New Insurance Act still in the drafting stage - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2017-06-14T03:51:28+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/new-insurance-act-still-in-the-drafting-stage\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"New Insurance Act still in the drafting stage"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":638496,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/08\/efsa-appears-to-have-completed-new-law-to-regulate-insurance-industry\/","url_meta":{"origin":646436,"position":0},"title":"EFSA appears to have completed new law to regulate insurance industry","author":"enterpriseam admin","date":"8 October 2017","format":false,"excerpt":"It looks like the Egyptian Financial Supervisory Authority (EFSA) has completed a new law to regulate the insurance industry and will be shopping it around to industry associations before sending a draft to the Ismail cabinet, EFSA chairman Mohamed Omrantold the press on Saturday. Not much by way of details\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":644856,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/05\/efsa-to-draft-new-exec-regs-for-capital-markets-act-once-it-passes-the-house\/","url_meta":{"origin":646436,"position":1},"title":"EFSA to draft new exec regs for Capital Markets Act once it passes the House","author":"enterpriseam admin","date":"5 July 2017","format":false,"excerpt":"EFSA to draft new regs for Capital Markets Act once it passes the House: The Egyptian Financial Supervisory Authority (EFSA) will be drafting new executive regulations for the amended Capital Markets Act once the House of Representatives signs off on the bill, EFSA boss Sherif Samy said on Tuesday, according\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647199,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/04\/efsa-issues-new-regulations-for-holding-stocks-in-brokerage-firms\/","url_meta":{"origin":646436,"position":2},"title":"EFSA issues new regulations for holding stocks in brokerage firms","author":"enterpriseam admin","date":"4 May 2017","format":false,"excerpt":"The Egyptian Financial Supervisory Authority (EFSA) has issued new regulations oninvestment in brokerage firms, EFSA chief Sherif Samy announced yesterday, Al Borsa reports. Under the new policy, which Samy says complement recent amendments to the executive regulations of the Capital Markets Act, the authority must sign off on any transaction\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651734,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/efsa-chairman-takes-a-stand-against-a-stamp-tax-rate-of-0-5\/","url_meta":{"origin":646436,"position":3},"title":"EFSA chairman takes a stand against a stamp tax rate of 0.5%","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"EFSA chairman takes a stand against a stamp tax rate of 0.5%: Egyptian Financial Supervisory Authority (EFSA) chairman Sherif Samy reportedly opposes the imposition of a stamp tax of up to 0.5% on stock market transactions, according to Al Mal, which quotes Samy as saying the move could curb inflows\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645755,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/efsa-hopes-to-begin-issuing-short-term-debt-instruments-in-egypt-this-year\/","url_meta":{"origin":646436,"position":4},"title":"EFSA hopes to begin issuing short-term debt instruments in Egypt this year","author":"enterpriseam admin","date":"30 July 2017","format":false,"excerpt":"EFSA hopes to green-light the issuance of short-term debt instruments this year: The Egyptian Financial Supervisory Authority (EFSA) is planning to being allowing companies to issue short-term bonds before the end of 2017 for the first time, authority chief Sherif Samy said on Thursday, according to Al Mal. The move,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636874,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/02\/efsa-planning-changes-to-regs-on-treasury-shares-mortgage-finance\/","url_meta":{"origin":646436,"position":5},"title":"EFSA planning changes to regs on treasury shares, mortgage finance","author":"enterpriseam admin","date":"2 November 2017","format":false,"excerpt":"EFSA planning changes to regs on treasury shares, mortgage finance: The Egyptian Financial Supervisory Authority (EFSA) is apparently still planning on making further changes to EGX regulations, this time with treasury stocks. EFSA is reportedly considering obliging shareholders who have acquired a stake north of 33% in a company through\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/646436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=646436"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/646436\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/646426"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=646436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=646436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=646436"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=646436"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=646436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}