Insurance Market To Flourish On Lowering RRR On Deposits: Adel Mounir
Adel Mounir, deputy chairman of Egyptian Financial Supervisory Authority, told Amwal Al Ghad that the Central Bank of Egypt’s decision to reduce the reserve requirement ratio imposed on banks’ deposits will contribute in providing banks with more liquidity. Accordingly, investment opportunities will increase and lending and financing costs will decrease. Increasing the volume of investment will affect positively on the insurance market as the number of insurance agreements and premiums will increase.
Mounir affirmed that the government health insurance draft law will benefit the people, adding that he will support the law even if it may contradict the benefit of insurance firms.
The 6th annual private insurance funds conference will be held in September, Mounir added.
