UAE sets up insurance watchdog

by Reuters Tuesday, 12 June 2007

The United Arab Emirates has set up a watchdog to oversee the Gulf Arab state's insurance industry as of August 1, a senior government official said.

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"Starting August 1 this year, the Insurance Regulatory Authority will govern insurance companies in the country," Abdullah al-Saleh, undersecretary of the economy ministry told reporters.
"There will be new regulations for the insurance sector," Saleh said without giving details.

Currently the ministry oversees insurance firms.



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