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The President of the Republic, Mr. Abdelmadjid Tebboune ordered, during the meeting of the Council of Ministers which he chaired on Wednesday, to postpone for re-examination, the bill relating to insurance with a view to a more precise organization, indicates a press release from the Council of Ministers.
“The President of the Republic ordered the postponement, for re-examination, of the bill, with a view to a more precise organization in accordance with the high instructions given by Mr. President,” specifies the press release.
Among other guidelines, the President of the Republic affirmed that “the field of insurance was closely linked to national sovereignty and the bill should be free of gaps to avoid methods used in the past to the detriment of the public treasure”, notes the press release.
The President of the Republic instructed to “permanently and periodically monitor the activity of insurance companies and to attach the greatest importance to services and not to the collection of funds by easy methods and quick gain, as well as to expand the areas of insurance to include other specialties.”
The President of the Republic instructed “to include in the bill a requirement of residence on Algerian soil for owners of insurance companies,” adds the same source.