Governor of Maldives Monetary Authority (MMA) Ahmed Naseer has revealed a drafted bill on insurance has been submitted to Parliament.
Addressing the ceremony held to mark the 34th anniversary of Allied Insurance Company of the Maldives, Governor Naseer said efforts are underway to identify the financial situation about the insurance companies in Maldives. Noting MMA has begun compiling a corporate governance regulation in efforts to enhance the insurance sector of the country, the governor added the corporate government regulation will be published in the coming days with the assistance of International Monetary Fund (IMF).
Furthermore, Naseer added efforts are underway to formulate an advisory council on insurance. He highlighted the success of Allied Insurance in the competitive insurance market.