Regulators relax bancassurance rules in Egypt

The Egyptian Financial Supervisory Authority and the nation's central bank have loosened bancassurance rules to permit banks to have more tie-ups with insurers, reported Middle East Insurance Review.

Previously, a bank was allowed to tie up with one general insurer and one life insurer.

The new rules allow banks to form a bancassurance arrangement with one general insurer, one general takaful operator, one life insurer and one family takaful company.

Conventional insurers and takaful operators were not differentiated under the old rules.

Read more