Bahrain Employment and Career News
Minimum qualification mandatory for insurance agents in Bahrain
The Central Bank of Bahrain (CBB) has announced that henceforth it is mandatory for representatives of insurance companies to possess a minimum qualification to practice in the country.
The CBB is the first regulator in the Middle East to introduce such requirement. This is hoped to further strengthen the public perception of the insurance market here.
To underscore this initiative, the Bahrain Institute of Banking and Finance (BIBF), together with the CII jointly worked on introducing internationally recognized qualification with regional emphasis.
The CBB expect that the insurance market will grow several folds and the public can be assured that they are dealing with well-trained and competent insurance representatives, said Nader Al Mandeel, Director, Insurance Supervision Directorate, CBB.
“This is a major development for insurance sector in Bahrain, which will enhance the reputation of Bahrain insurance sector, both locally and regionally,” commented Yasser Albaharna, Vice-Chairman, Bahrain Insurance Association.
The initiative is hoped to help investors, while enhancing public perception about the insurance market.
Posted on 23/7/2009
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