Absent from private companies a scientific conference to reform the reality of insurance in Iraq

by **claud39** Fri Jun 04, 2021 6:52 pm

[size=36][rtl]Absent from private companies a scientific conference to reform the reality of insurance in Iraq[/rtl][/size]

Thursday 03 June 2021

Absent from private companies a scientific conference to reform the reality of insurance in Iraq Alsabaah-79901

Baghdad: Mustafa Al-Hashemi

The Financial and Accounting Training Center is holding its first annual international scientific conference for the year 2021 entitled (Reform of the Insurance Sector in Iraq / Reality Challenges and Future Opportunities), and under the slogan (Economic Reform is Our Way to Improve the Performance of Financial Institutions), next September and its work will continue for two days.

A statement by the center, which was followed by "Al-Sabah", stated that "the holding of the conference comes in cooperation with the Insurance Bureau, the National Insurance Company, the Iraqi Insurance Company, the Iraqi Reinsurance Company, the College of Administration and Economics / Al-Mustansiriya University, the College of Business Economics / Al-Nahrain University and the Higher Institute for Financial and Accounting Studies / Baghdad University."

The statement pointed out that "the conference's title, slogan and themes came in light of what was presented in the government's white paper." In this context, the specialist in insurance affairs, Misbah Kamal, commented on this event, saying: “The news mentioned the three government insurance companies, and there was no mention of the Iraqi Insurance Association, whose membership includes private and public insurance companies whose presence can be useful to represent private insurance companies.”

He added that "combining academic entities and insurance companies would generate new reform ideas for the entire insurance sector, assuming that combining the accumulated insurance studies of academic institutions with the experience of public and private insurance companies would contribute to providing concrete and applicable reforms in the context of the current insurance reality."

And he indicated that “the absence of private insurance companies or their representatives means that the first scientific conference is for general insurance companies and not the insurance sector as a whole.” He pointed out that “the Ministry of Finance had previously organized the first insurance conference in June 2009, and in March 2018 the Iraqi Insurance Conference was held. At the invitation of the Creativity Center for Youth and Community Development.

Kamal called on the Ministry of Finance and the House of Representatives to "adopt the reviews of specialists from insurance practitioners and their ideas to amend Law No. 10 of 2005 regulating insurance business."

For her part, economic researcher Aya Adel said, “It is necessary to study the recommendations that resulted from previous conferences, related to insurance affairs, and study what can be applied on the ground, with an alert to the need to be familiar with all the technical aspects of the insurance sector in Iraq for the purpose of the conference’s success.”

In her interview with Al-Sabah, Adel pointed to the "necessity to invite private insurance companies, numbering more than 30, to discuss their visions and ideas in order to come up with real reform results for the reality of insurance in Iraq."

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