ABA Conducted Workshop on Insurance Sector in Afghanistan
Date: April 01, 2019
To be in compliance with Insurance law and regulations and to provide interaction opportunity for banks-insurance companies and General Director of Insurance Affairs (GDIA), ABA organized a workshop on April 01, 2019 at ABA Office.
The workshop was attended by high officials from General Director (GDIA), insurance companies, banks and ABA management. At the beginning, Mr. Najibullah Amiri Executive Director ABA, welcomed the participants and thanked GDIA for their participation. He updated on ABA efforts for facilitation of insurance collective approaches for its member banks. Mr. Amiri added that, we formed a technical insurance committee that work to develop RFP, submit to insurance companies. Mr. Amiri added that Banking Sector is one of potential sector for insurance. The main aim of today’s workshop is to know update on law and regulations, get reasonable- trustworthy insurance services from qualified insurance company for the banks.
Mr. Mosa Kamawe General Director of GDIA, thanked ABA for arranging such workshop. He briefed on GDIA regulatory and supervisory role on governing insurance sector in the country and recent reforms that taken place. Further, he added that the insurance law is under final revision, will be shared with ABA-banks for review. As for as the Takaful insurance is concerned he updated that, so far it is in the Ministry of Justice for review, that will also be shared with ABA.
A presentation on GDIA was delivered, where it covered GDIA objective, mission, insurance law and regulation, concepts and definition, insurance market mechanism, insurance types, Takaful models, insurance policies and insurance importance for the businesses.
Mr. Anwar Raza ABA Insurance Committee Chairperson also briefed participants on committee activities' progress, which they soon will finalize RFP.
At the end, banks’ questions on regulatory framework and other area those were answered by the GDIA and it is recommended that, in order to better understand the insurance capabilities, banks under leadership of ABA shall be visiting insurance company’s compasses.
