UAE sets up insurance watchdog

The United Arab Emirates has set up a watchdog to oversee the Gulf Arab state's insurance industry as of August 1, a senior government official said."Starting August 1 this year, the Insurance Regulatory Authority will govern insurance companies in the country," Abdullah al-Saleh, undersecretary of the economy ministry told reporters. "There will be new regulations for the insurance sector," Saleh said without giving details. Source

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