State Council meeting hosts insurance firms in Oman

MUSCAT: The working group formed by the State Council to study ‘loans and bank insurance’ on Thursday, hosted officials of Oman United Insurance Company and AXA Insurance to enrich the study themes.
The team held its second meeting for the first annual session and was headed by Dr Saeed bin Sultan Al Busaidy in the presence of the members with the officials of the two companies.
A number of study themes including justifications for obligating those over the age of 60 years to agree to the insurance company and conducting a medical examination for obtaining a bank loan, in addition to discussing the regulations, requirements and credit regulations governing personal insurance (life insurance) for bank borrowing, especially for those over the age of 60 years by insurance companies.
Meanwhile, a delegation from Moody’s Investors Service visited the State Council on Wednesday during the course of its current visit to the Sultanate.
The delegation was received by Dr Said bin Mubarak al Maharami, member of the council’s Bureau, and Dr Ahmed bin Hamid al Shibli, Deputy Assistant Secretary-General of the Information and Research Centre.
During the meeting, they touched on the important role played by the Oman Council in legislation related to economic and financial issues and coordination between the Council and the government in order to strengthen the national economy.
In addition, it discussed a number of issues related to enhancing the Sultanate’s economic performance, especially in the field of investment and attracting investors in light of the advantages of the country, including the industrial and economic cities that provide a package of incentives for investors.
The delegation also toured the council, to be acquainted with its various facilities.