Oman Financial Services Authority joins IAIS Rabat meetings on protection gaps and insurance supervision priorities

The Oman Financial Services Authority is participating in meetings in Rabat of the International Association of Insurance Supervisors' Emerging Markets and Developing Economies group and Protection Gaps Task Force. The meetings bring together insurance regulators and supervisors to review current sector developments and challenges and to discuss supervisory and regulatory priorities for the insurance industry. The agenda covers consumer protection, risk based supervision, implementation of International Financial Reporting Standard 17, digital innovation, climate related risks, cybersecurity and insurance protection gaps, alongside public-private partnership models to expand coverage and address emerging risks. The authority framed its participation as part of its effort to align Oman's insurance regulatory framework with international standards and to draw on global supervisory practice, following Oman's participation in the IAIS Member Assessment Programme, under which it became the fifth jurisdiction to undergo assessment against the Insurance Core Principles. The Omani delegation is led by Ahmed bin Ali Al Mamari, Executive Vice President of the authority, who also serves on the IAIS Executive Committee.