“The Central” cancels the license of “insurance mediation” company

The Central Bank canceled the license of the “Dynamics” company for insurance brokers, in accordance with the provisions of Article 22 (2) of the Board Decision No. (15) of 2013 regarding the insurance mediation system.

This punishment comes as a result of the inspections conducted by the “Central”, which revealed the lack of commitment of the company “Dynamx” to the conditions and requirements of licenses issued by the central bank, and the additional requirements stipulated in the system. The Central, through its supervisory and regulatory tasks, works to ensure the commitment of insurance companies and professions associated with insurance to the laws, regulations and standards approved by him in order to maintain the integrity of the insurance sector, and to protect the financial system of the state.