The Emirates Insurance Supervisory Authority "the Insurance Authority" has imposed five conditions to practise a bancassurance [4] 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.