The Sultanate of Oman represented by the Capital Market Authority participated in the 26th annual meeting of the International Association of Insurance Supervision (IAIS) and the accompanying conference under the theme ‘Supervision in a Digital Era” hosted by the United Arab Emirates.
CMA’s delegation was presided by HE Abdullah Salim Al Salmi, Executive President of CMA and the membership of Ahmed Ali Al Maamari, Vice President for Insurance Sector and a number of employees of the sector.
CMA participated in the meeting and the accompanying conference in its capacity as member of the IAIS to acquaint with and contribute to the issues of concern for insurance supervisors beside acquainting with the experiences of leading countries in the insurance industry.
The conference discussed the principles of management of insurance market and the alignment of the applications with the future requirements in view of the use of technology as the experts see the importance of new technologies to evaluate their ability to apply the regulatory standards in the modern era. The conference also availed an opportunity to exchange expertise in the issues related of supervision and development of the insurance market.
It is noteworthy that IAIS was established in 1994 to enhance the supervision of the insurance industry worldwide to provide for fair, safe and stable markets for the benefit and protection of policyholders and contributing to the global financial stability.