ISTANBUL - The Afghanistan General Directorate of Insurance Affairs (GDIA) has signed a memorandum of understanding with Turkey’s General Directorate of Insurance (GDI) to Assist Afghanistan in developing its insurance sector, an official said.
Mosa Kamawi, the head of Afghanistan Insurance Affairs told Khaama Press that he has signed an MOU with Turkey’s insurance authority on the exchange of information and cooperation in the field of insurance regulation and supervision.
“The MOU signed on January 16 is valid for 3 years aiming to receive technical and advisory assistance from Turkey to help us with sharing information, experience and capacity building’, Kamawi said.
Turkey’s cooperation will also assist Afghanistan with new investment facilities and development of the country’s insurance market, Kamawi added.
This comes as insurance is one of the least developed industries in Afghanistan. Certain lines of insurance which are compulsory anywhere else in the world for the sustainability of the economy and proper risk management, are optional in Afghanistan.
Travel insurance is a popular coverage issued by travel agents and is obligatory for travelers and visa applicants. (KHAAMA PRESS)