Oman signs insurance MoU with Iran
Source: Middle East Insurance Review | Nov 2016
Oman’s Capital Market Authority (CMA) has signed a memorandum of understanding (MoU) with the Central Authority of Insurance of Iran (Bema Markazi Iran).
The MoU aims to promote the exchange of information as well as mutual cooperation and promotion between the insurance sectors of the two countries by enhancing technical cooperation, solvency and investments, reported Muscat Daily citing a CMA statement.
Building on existing cooperation between the two countries in various sectors, the insurance MoU promotes 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 IT applications in insurance.
Sheikh Abdullah Al Salmi, CMA Executive President signed the MoU on the Omani side while Dr Abdulnaser Himati, the President of the Iranian insurance regulator, did so for his country. The signing took place on the sidelines of the 16th session of the Oman-Iran Economic Committee, which met recently in Tehran.