In 2004 the responsibilities of the insurance sector was transferred from the Ministry of Commerce and Industry to the Finacial Services Authority in order to develop, and restructure the legislative and regulatory of this sector.
The Authority continued since then, the development path of the insurance sector and activating its role in serving the national economy of the country.
The Authority has issued several circulars, charters, laws and regulations in order to ensure keep up with the most important frameworks and legislation governing the insurance industry with global best practices and taking into account the requirements and specificities of the local market.
