Shaker: Brokers Union Is Essential

Founding a union or a syndicate for brokers necessitates legislative amendments, said Adel Shaker, chairman of Egyptian Insurance Brokers Association.

The under construction Union of Brokerage Companies is facing many difficulties as amending laws takes a long time especially amid the current political unrest.

Shaker said that the Union founders have two choices; the first is joining the six-year old EIBA (Egyptian Insurance Brokers Association) and the second is demanding the establishment of a union only for brokerage companies but, Shaker added, they did not decide till now.

Shaker clarified that it is permissible to be a member at EIBA and any other union at the same time. It is worth mentioning that EIBA has international expertise and is a member at Union of the Mediterranean countries.