Algeria: Government studies proposed revisions to insurance law
Source: Middle East Insurance Review | Jan 2024
Algeria prime minister Nadir Larbaoui has chaired a government meeting during which a preliminary draft insurance law was examined.
The draft insurance law is part of efforts at reforms of the financial sector, including modifying the legal framework.
A statement from the prime minister’s office said, “The proposed draft text aims to update the legislation relating to insurance and to promote the governance of this sector, in particular through the strengthening of the regulatory function, as well as the establishment of the legal basis for shariah-compliant insurance (takaful) and adapting to changes in the insurance business.”