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Iran, Afghanistan sign MoU on insurance services

A document on strengthening cooperation in different areas of insurance and the exchange of knowledge and experience was signed between Iran and Afghanistan within the framework of national laws and regulations.

(SHADA: TEHRAN) -- At the signing ceremony, Gholamreza Soleimani, head of the Central Insurance Company of Iran, highlighted the rich cultural backgrounds of the two countries and said it is necessary to create a framework for the establishment of insurance and reinsurance companies with the joint investment of the two countries.

The head of the Central Insurance Company outlined the capabilities of Iran's insurance industry, and stated: Promoting the insurance industry in Afghanistan and Iran is one of the serious economic plans and the exchange of experience and information in various fields such as insurance statistics science, methods of investing resources and reserves as well as regulatory practices can pave the way for development for both countries.

Pointing to the capacities of life insurance in the country, Soleimani said: The generalization and increase of the life insurance penetration rate in the society is among the main plans of our supervisory body and insurance industry in our country which we pursue this issue with serious reliance on domestic and international experience.

Under the joint plan, the two sides will develop technical cooperation, benefit from information technology, and enhance the technical expertise of insurance experts by holding seminars, specialized courses and workshops.

Alhaj Mohammad Musa Kamwi, chief of insurance affairs of the Ministry of Finance of the Islamic Republic of Afghanistan, expressed satisfaction with the readiness of Iran's Central Insurance to cooperate with his country, and said: Iran and Afghanistan share lots of cultural and historical commonalities which can help improve insurance industry interactions.

Outlining the achievements and performance of the Afghan insurance industry, he said: Creating joint work opportunities for Afghan insurance companies with Iranian insurance companies and facilitating the licensing process for establishing insurance companies, reinsurance companies, agencies and liaison offices within the framework of the current laws of the two countries can open a new chapter in the cooperation and growth of the insurance industry of Iran and Afghanistan.