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Monday, 9 July 2018

GAFI issues non-objection to Sarwa establishing insurance companies

The General Authority for Investment and Free Zones (GAFI) has no objection to Sarwa Capital establishing two separate life and insurance companies, each of which will have a capital of around EGP 100 mn, Al Mal reports. Lebanese United Insurance company will own 15% of each of the companies’ shares. Sarwa is expecting to start operations one month after it receives the final approval from the Financial Regulatory Authority (FRA).

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