Conditions to carry out a bancassurance activity in the United Arab Emirates

The Emirates Insurance Supervisory Authority "the Insurance Authority" has imposed five conditions to practise a bancassurance activity in the United Arab Emirates.

Insurers wishing to carry out bancassurance activities must:

  • obtain approval from the central bank,
  • appoint an employee charged with the marketing of insurance in each bank office,
  • organize training courses for employees,
  • submit a contract bearing the signature of the insurance company and that of the customer of the bank,
  • comply with the insurance regulations set by the supervisory authority.
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