Oman and Iran sign accord for cooperation in insurance sector

Date

9/29/2016 1:06:14 AM

(MENAFN- Muscat Daily) Muscat-

H E Sheikh Abdullah al Salmi, executive president of Oman's Capital Market Authority (CMA) signed a memorandum of understanding (MoU) with the president of the Central Authority of Insurance of Iran (Bema Markazi Iran), Dr Abdulnaser Himati, on the sidelines of the 16th session of the Oman-Iran Economic Committee, which met on September 26-27 in Tehran.

The agreement, signed in the presence of H E Dr Ali al Sunaidy, Minister of Commerce and Industry and the Omani delegation to the meetings, aims at exchange of information, mutual cooperation and promotion between the insurance industries of the sultanate and Iran through enhanced technical cooperation, solvency and investment.

The MoU will also enhance cooperation with neighbouring markets to simulate their experiences, a CMA press statement said on Wednesday.

It comes in the context of existing cooperation between the two countries in various sectors as it encourages the opening up of markets for insurance companies, easing direct and indirect investments and cooperation in technical areas such as actuarial sciences, life-insurance mechanisms and information-technology applications in insurance.

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