Egyptian economy minister to issue main system for cooperative insurance associations

Egyptian Minister of Economy Yousef Butros Ghali issued a decision regarding the cooperative insurance associations according to which the rules of the cooperative laws implemented in Egypt.

Cooperative insurance associations will submit to the supervision of the Egyptian Organization for Insurance Supervision which guarantees methods of establishing the associations, their capital, how to join them, and that the shares will be owned by Egyptians.

An official source in Ministry of Economy said that issuing the main system for the cooperative associations is considered a step toward supporting and developing insurance work in a way that it makes it cable of coping with the international markets.