IFE studies marketing micro- insurance with banks

By Islam Abdel Hameed

Amwal Al Ghad

Insurance Federation of Egypt (IFE) aims at marketing micro insurance, which will benefit a big segment of customers.

Mr. Abdel Raouf Kotb, Chairman of The IFE, stated that all who is concerned about micro insurance, civil and charity associations and banks that finance SMEs, main provider of micro-insurance, will be invited to set a suitable marketing plan in a seminar or a workshop under the sponsorship of IFE.

Kotb added that IFE will issue books, for the one-year-old-“100 books” project, in order to enrich insurance library with Arabic and Egyptian books. Some of these issues are written and some are translated. The translated works are being chosen currently from libraries of the insurance institutes in London and USA. The committee of this project is headed by Abdel Raouf Kotb and Dr. Adel Mounir, deputy chairman of the Egyptian Financial Supervisory Authority, is a member it this committee.

Regarding accounting standards for Takaful insurance, Kotb said that IFE studied them and is preparing now the final form, to be submitted to Dr, Adel Mounir, as being the director of the financial committee of the Authority, for approval.