New Insurance policy for Egyptian Bourse Investors
By Mohammad Baali
Albawaba.com – Egypt
The Egyptian insurance companies have prepared a new insurance policy to protect the stock exchange investors. The policy will bear the responsibilities of portfolio and investment funds managers towards their clients.
The Egyptian Insurance Monitoring Authority has endorsed the insurance policy, which has also been presented to and endorsed by the Egyptian Stock Market Authority. The document is considered as part of the program set up by the authority aiming at providing an insurance scheme covering all companies dealing with the Egyptian Bourse.
An insurance policy for the protection of brokers was issued last July.
According to the stock market law, participation in the new insurance policy is mandatory for all portfolios and investment funds companies.