The Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority of Oman (CMA) have signed an agreement to establish the FinTech Saudi Center. This initiative is part of the Kingdom’s Financial Sector Development Program (FSDP), itself under the KSA Vision 2030. Located in King Abdullah Financial District in Riyadh,...
Trust Re has announced that Nest Investments Holdings Ltd. will inject the USD130 million replacement funds during 2019. The latest injection of funds has been attributed to economic conditions of the company impacted by regional geo-politics and the ongoing finalisation of the 2017 and 2018 audited consolidated financial statements of...
The Department of Health-Abu Dhabi (DoH) has announced the development of a comprehensive oral health policy for all residents across the emirate. The new policy focuses on four key aspects, developing a new system for oral healthcare services, enhancing community awareness of the importance of preventative care and oral hygiene,...
Warba Insurance has increased its stake in Wapmed TPA Services from 54.57 percent to 82.57 percent by buying 1.96 million shares in consideration of KWD196,000 (USD645.67). The transaction was concluded under the supervision of Boursa Kuwait and Kuwait Clearing Company, according to a statement. Warba stated that the financial impact of the...
Beirut-based insurance technology start-up BSynchro has raised USD1 million in fresh funds from existing local VCs Berytech (Fund II) and Phoenician Funds (I), the start-up has announced in a statement. BSynchro apparently remained bootstrapped for a very long period of time before receiving its first external investment of USD4 million...
Retired Kuwaitis will receive addition healthcare benefits with improved Afya 2 insurance card, according to the health ministry. The card will offer full coverage for the treatment of several additional ailments, the ministry said in a statement. These include joint stiffness, joint articulation with prosthetics, osteoporosis, fractures, urinary incontinence, prostate...
The Directorate General of Passports (Jawazat) has made mandated the provision of medical insurance coverage for extension of family visit visa, local daily Al-Madinareported. The Jawazat said the provision of medical insurance for the visitors is a must for the extension of their visit visa. It said medical issuance will...
The UAE Cabinet’s approval for the executive regulations of the Federal Law on Medical Liability reinforces the country’s health system and efficiency of medical services, to be at par with the international standards, said the Ministry of Health and Prevention (MoHAP). The executive regulation outlines the controls and requirements of...
The recent attacks in the Gulf of Oman, close to the Fujairah port in the UAE have caused insurance premiums of oil tankers and ships to increase by an average of 10 percent. The increase in premiums has been attributed to the risk faced by tankers that sail through the...
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has announced the launch of ‘SME Protect’, an export trade credit solution, specifically designed for UAE-based SMEs to support their growth plans globally and assist them in entering high-growth markets. The product is claimed to be the first SME product...
