New regulatory measures for brokers

The Insurance Authority (IA) has modified the regulations of brokerage's activity. Among the main measures, the minimum capital is set at 816 771 USD for local brokers, and USD 2 722 360 for foreign firms. Bank guarantees are also modified to USD 1 361 180 for foreign brokers, and 816 771 USD for local ones. A deadline of one year has been granted to all registred brokers to comply with the new regulations.

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