The Egypt Financial Regulatory Authority (FRA) signed a memorandum of understanding with Lebanon’s Insurance Control Commission (ICC) to expand cooperation and exchange expertise in insurance regulation and supervision, including coordination on anti-money laundering and counter-terrorist financing and support for cross-border supervisory work. The MoU covers promoting investment in the insurance sector in both countries, exchanging information and documents on insurance operations including combating insurance fraud, and cooperating on cross-border supervision and assistance for cross-border insurance services. It also provides for training and technical cooperation on licensing and supervisory practices, the regulatory and technical systems used to oversee insurers and related professions, joint benchmarking and institutional excellence standards, exploring reinsurance growth opportunities, and cooperation on actuarial science and takaful insurance frameworks, alongside ongoing consultations on relevant legislative and regulatory developments.
Egypt Financial Regulatory Authority 2025-11-04
Egypt Financial Regulatory Authority signs MoU with Lebanon’s Insurance Control Commission on insurance supervision and AML/CFT coordination
The Egypt Financial Regulatory Authority signed a memorandum of understanding with Lebanon’s Insurance Control Commission to enhance cooperation in insurance regulation and supervision. The agreement includes coordination on anti-money laundering, cross-border supervision, and promoting investment in the insurance sector. It also covers training, technical cooperation, and collaboration on actuarial science and takaful insurance frameworks.