Law on Foreign Investment in Insurance Sector
Economy, Business And Markets

Law on Foreign Investment in Insurance Sector

The Majlis ratified a law on Monday allowing foreigners to invest in Iran’s gradually growing insurance industry by buying shares of domestic firms, opening branches and corresponding offices in Iran. Foreign companies can also set up joint insurance companies. According to risknews.ir, the legislature also allowed the Agricultural Insurance Fund, affiliated to Bank Keshavarzi, to launch joint insurance firms with non-Iranian entities. Foreign firms were given such permission in the Fifth Five Year Economic Development Plan (2011-16), but now lawmakers have voted to make it law. The law recognizes the Central Insurance company of Iran as the main regulator for foreign collaboration in the key industry. Foreign insurers can own up to 49% stake in mainland firms and 100% ownership in the free trade zones.


Short URL : http://goo.gl/oWxWuf
  1. http://goo.gl/WJrzFO
  • http://goo.gl/DIC7lr
  • http://goo.gl/sc8VtA
  • http://goo.gl/thD2zL
  • http://goo.gl/wEwkfF

You can also read ...

Central Bank of Iran Against Market Intervention
Central Bank of Iran's Governor Abdolnasser Hemmati said the...
New Forex Initiative Unable to Tip Scales
The new forex initiative has only managed to fix major policy...
VDMA Backs Iran Trade
Germany’s plastics and rubber machinery trade association,...
Musk Bid for Tesla Still Murky
Tesla Inc’s board named a special committee of three directors...
Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
Tehran is one of the top five cities in the world to have...
Equity-Based Sukuk Return to Iran Capital Market
The government is set to clear part of its debt to Social...
S. Korea Bans Recalled BMWs Over Fire Fears
The South Korean government has said it will ban about 20,000...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...