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  •   ADCB Egypt a subsidiary of Abu Dhabi Commercial Bank Group the third largest bank in the UAE has extended its collaboration with Temenos SIX TEMN www Temenos com to offer next generation digital payments on Temenos open composable banking platform The bank will build payment solutions to adopt new global standards such as ISO20022 and SWIFT GPI and power new payment offerings including instant and cross border payments for its business and retail customers With Temenos the bank will benefit from the agility and flexibility to process payments instantly from any channel local or international all in real time ADCB Egypt will also compose digital banking solutions with the latest core banking capabilities to streamline and automate your treasury management lifecycle Ihab ElSewerky General Manager and CEO of ADCB Egypt said ADCB Egypt is always interested in adopting the latest technologies and partnering with the best service providers This new step in our existing collaboration with Temenos will empower the bank s internal systems such as new instant payment solutions Technological updates will always keep us ahead of the curve to offer our customers best in class quality of service and comply with regulatory directives This is also in line with our digital transformation strategy and commitment to being at the forefront of innovation that differentiates our service delights customers and meets their growing needs Jean Paul Mergeai President EMEA APAC Temenos said ADCB is leading the way in digital banking in Egypt With Temenos you have created a modern customer centric digital bank that can innovate quickly and deliver outstanding customer experiences Temenos is the clear market leader with a strong presence in Egypt Our global experience combined with local market knowledge will support ADCB as it continues to develop and grow its banking services in Egypt With this new cooperation ADCB Egypt will take advantage of the growing demand for cross border payments from customers offering instant and frictionless payments from account to account anywhere in the world Temenos Payments on the Temenos open platform will also allow the bank to automate its front middle and back office functions The bank experienced rapid adoption in its first year and was recognized as the fastest growing digital bank and received the award for Best Digital Transformation Program and Outstanding IT Transformation Today more than half of the bank s customer transactions are digital Temenos Payments is a comprehensive platform for efficient payment execution and distribution eliminating the need for a separate system for different types of payment businesses or payment rails The platform will enable ADCB Egypt to continue to enhance the digital customer experience with new payment products such as instant payments and payment request quickly and cheaply Temenos Payments is API enabled and complies with ISO20022 business flows and messaging standards
    ADCB Egypt Chooses Temenos for Next-Generation Digital Payments
      ADCB Egypt a subsidiary of Abu Dhabi Commercial Bank Group the third largest bank in the UAE has extended its collaboration with Temenos SIX TEMN www Temenos com to offer next generation digital payments on Temenos open composable banking platform The bank will build payment solutions to adopt new global standards such as ISO20022 and SWIFT GPI and power new payment offerings including instant and cross border payments for its business and retail customers With Temenos the bank will benefit from the agility and flexibility to process payments instantly from any channel local or international all in real time ADCB Egypt will also compose digital banking solutions with the latest core banking capabilities to streamline and automate your treasury management lifecycle Ihab ElSewerky General Manager and CEO of ADCB Egypt said ADCB Egypt is always interested in adopting the latest technologies and partnering with the best service providers This new step in our existing collaboration with Temenos will empower the bank s internal systems such as new instant payment solutions Technological updates will always keep us ahead of the curve to offer our customers best in class quality of service and comply with regulatory directives This is also in line with our digital transformation strategy and commitment to being at the forefront of innovation that differentiates our service delights customers and meets their growing needs Jean Paul Mergeai President EMEA APAC Temenos said ADCB is leading the way in digital banking in Egypt With Temenos you have created a modern customer centric digital bank that can innovate quickly and deliver outstanding customer experiences Temenos is the clear market leader with a strong presence in Egypt Our global experience combined with local market knowledge will support ADCB as it continues to develop and grow its banking services in Egypt With this new cooperation ADCB Egypt will take advantage of the growing demand for cross border payments from customers offering instant and frictionless payments from account to account anywhere in the world Temenos Payments on the Temenos open platform will also allow the bank to automate its front middle and back office functions The bank experienced rapid adoption in its first year and was recognized as the fastest growing digital bank and received the award for Best Digital Transformation Program and Outstanding IT Transformation Today more than half of the bank s customer transactions are digital Temenos Payments is a comprehensive platform for efficient payment execution and distribution eliminating the need for a separate system for different types of payment businesses or payment rails The platform will enable ADCB Egypt to continue to enhance the digital customer experience with new payment products such as instant payments and payment request quickly and cheaply Temenos Payments is API enabled and complies with ISO20022 business flows and messaging standards
    ADCB Egypt Chooses Temenos for Next-Generation Digital Payments
    Africa6 months ago

    ADCB Egypt Chooses Temenos for Next-Generation Digital Payments

    ADCB-Egypt, a subsidiary of Abu Dhabi Commercial Bank Group, the third largest bank in the UAE, has extended its collaboration with Temenos (SIX: TEMN) (www.Temenos.com) to offer next-generation digital payments on Temenos open composable banking platform.

    The bank will build payment solutions to adopt new global standards such as ISO20022 and SWIFT GPI and power new payment offerings, including instant and cross-border payments, for its business and retail customers. With Temenos, the bank will benefit from the agility and flexibility to process payments instantly from any channel, local or international, all in real time.

    ADCB Egypt will also compose digital banking solutions with the latest core banking capabilities to streamline and automate your treasury management lifecycle.

    Ihab ElSewerky, General Manager and CEO of ADCB-Egypt, said: “ADCB Egypt is always interested in adopting the latest technologies and partnering with the best service providers. This new step in our existing collaboration with Temenos will empower the bank's internal systems such as new instant payment solutions. Technological updates will always keep us ahead of the curve to offer our customers best-in-class quality of service and comply with regulatory directives. This is also in line with our digital transformation strategy and commitment to being at the forefront of innovation that differentiates our service, delights customers and meets their growing needs.”

    Jean-Paul Mergeai, President EMEA-APAC, Temenos, said: “ADCB is leading the way in digital banking in Egypt. With Temenos, you have created a modern, customer-centric digital bank that can innovate quickly and deliver outstanding customer experiences. Temenos is the clear market leader with a strong presence in Egypt. Our global experience combined with local market knowledge will support ADCB as it continues to develop and grow its banking services in Egypt.”

    With this new cooperation, ADCB-Egypt will take advantage of the growing demand for cross-border payments from customers, offering instant and frictionless payments, from account to account, anywhere in the world. Temenos Payments on the Temenos open platform will also allow the bank to automate its front, middle and back office functions.

    The bank experienced rapid adoption in its first year and was recognized as "the fastest growing digital bank" and received the award for Best Digital Transformation Program and Outstanding IT Transformation. Today, more than half of the bank's customer transactions are digital.

    Temenos Payments is a comprehensive platform for efficient payment execution and distribution, eliminating the need for a separate system for different types of payment businesses or payment rails. The platform will enable ADCB Egypt to continue to enhance the digital customer experience with new payment products, such as instant payments and payment request, quickly and cheaply. Temenos Payments is API-enabled and complies with ISO20022 business flows and messaging standards.

  •  The Central Bank of Nigeria CBN has directed all banks operating in the country to always observe strict compliance with SWIFT Universal Confirmation Requirements The directive was outlined in a circular issued by Mr Sam Okojere CBN s Director Banking Services Department Okojere directed all SWIFT customers to provide information on the outcome of all their Single Customer Payments MT103 messages to SWIFT via tracker Universal Confirmation The News Agency of Nigeria reports that SWIFT is an initiative aimed at improving customer experience through increased transparency in end to end payments tracking The conformation should get to SWIFT within two business days on whether the beneficiary s account has been credited payment rejected or pending Please note that all financial institutions within the ecosystem will be measured on whether they confirm 80 per cent of their weekly payments He said that SWIFT offered different ways to provide status update through automated or manual methods The channels are Bank Basic Tracker manual API calls Automated MT199 confirmations Batch confirmations Full GPI and ISO 20022 which will be available from 2022 All banks are strongly advised to review and select the appropriate channel that suits their operations with a view to meeting the deadline of Nov 22 2020 set by SWIFT for compliance he said Edited By Abiodun Esan Emmanuel Okara Source NAN
    CBN directs banks to comply with SWIFT universal payment confirmations
     The Central Bank of Nigeria CBN has directed all banks operating in the country to always observe strict compliance with SWIFT Universal Confirmation Requirements The directive was outlined in a circular issued by Mr Sam Okojere CBN s Director Banking Services Department Okojere directed all SWIFT customers to provide information on the outcome of all their Single Customer Payments MT103 messages to SWIFT via tracker Universal Confirmation The News Agency of Nigeria reports that SWIFT is an initiative aimed at improving customer experience through increased transparency in end to end payments tracking The conformation should get to SWIFT within two business days on whether the beneficiary s account has been credited payment rejected or pending Please note that all financial institutions within the ecosystem will be measured on whether they confirm 80 per cent of their weekly payments He said that SWIFT offered different ways to provide status update through automated or manual methods The channels are Bank Basic Tracker manual API calls Automated MT199 confirmations Batch confirmations Full GPI and ISO 20022 which will be available from 2022 All banks are strongly advised to review and select the appropriate channel that suits their operations with a view to meeting the deadline of Nov 22 2020 set by SWIFT for compliance he said Edited By Abiodun Esan Emmanuel Okara Source NAN
    CBN directs banks to comply with SWIFT universal payment confirmations
    CBN2 years ago

    CBN directs banks to comply with SWIFT universal payment confirmations

    The Central Bank of Nigeria (CBN), has directed all banks operating in the country to always observe strict compliance with SWIFT Universal Confirmation Requirements.

    The directive was outlined in a circular issued by Mr Sam Okojere, CBN’s Director, Banking Services Department.

    Okojere directed all SWIFT customers to provide information on the outcome of all their Single Customer Payments (MT103) messages to SWIFT, via tracker (Universal Confirmation).

    The News Agency of Nigeria reports that SWIFT is an initiative aimed at improving customer experience through increased transparency in end-to-end payments tracking. 

    “The conformation should get to SWIFT within two business days on whether the beneficiary’s account has been credited, payment rejected or pending.

    “Please note that all financial institutions within the ecosystem will be measured on whether they confirm 80 per cent of their weekly payments.”

    He said that SWIFT offered different ways to provide status update through automated or manual methods.

    “The channels are Bank Basic Tracker-manual; API calls; Automated MT199 confirmations; Batch confirmations;  Full GPI and ISO 20022, which will be available from 2022.

    “All banks are strongly advised to review and select the appropriate channel that suits their operations with a view to meeting the deadline of Nov. 22, 2020 set by SWIFT for compliance,’’ he said.


    Edited By: Abiodun Esan/Emmanuel Okara
    Source: NAN

  •   The Chief Executive Officer Nigerian Stock Exchange NSE Mr Oscar Onyema on Tuesday said that the upward review of the paid up capital in the insurance industry would strengthen the growth and development of the sector Onyema made the remark at the NSE Insurance Sector Forum with the theme Recapitalisation A Panacea for Insurance Industry Growth held in Lagos According to him the ongoing recapitalisation and consolidation exercise is expected to significantly impact the industry and equally present new opportunities in mergers and acquisitions as well as private equity and public offerings The Nigeria News Agency reports that National Insurance Commission NAICOM in exercise of its statutory powers and regulatory functions on May 20 reviewed the minimum paid up share capital requirement for all Insurance and Reinsurance companies The directive does not apply to Takaful operators and Micro insurance companies doing business in Nigeria Following the reviewed minimum capital requirement the existing minimum paid up capital share of Life Insurance business was reviewed and raised from N2 billion to N8 billion General Insurance business was raised from N3 billion to N10 billion Composite business from N5 billion to N18 billion and Reinsurance business from N10billion to 20 billion The new paid up share capital requirement took immediate effect for new applications made to NAICOM by companies seeking to carry on insurance business in Nigeria However existing insurance and reinsurance companies were required to fully comply with the new minimum capital requirement not later than June 30 2020 Onyema said that the NSE saw close parallels between the recapitalisation and that of the banking sector in 2005 He said that the immense growth seen in banking industry in large part could be attributed to successful capital raised through the capital market The NSE chief reviewed the performance of the insurance industry over the years the challenges being faced and what the future held The Nigerian Insurance industry has grown remarkably over the years generating a Gross Premium Income GPI of N448 6 bn in 2018 reflecting a 12 per cent growth from 2017 The industry also recorded an increase in its asset base by an estimated sum of N1 3 trillion as at December 31 2018 reflecting a 17 per cent Compound Annual Growth Rate over the last three years According to the National Bureau of Statistics the Insurance sector recorded a nominal growth rate of 6 69 per cent and a real GDP growth rate of 3 96 per cent in Q3 2019 from 4 48 per cent in Q2 2019 and 1 03 per cent in Q3 2018 Although this data indicates a positive outlook in the Nigerian insurance industry the reality and headwinds faced by operators in the sector are quite formidable Many licensed insurers are largely undercapitalised thus limiting their ability to take on big ticket in country risks as is often required in the oil and gas marine and aviation sectors According to Onyema as at Q3 2019 the insurance sector contributed less than one per cent to the Gross Domestic Product GDP of Nigeria and a penetration rate of 0 31 per cent and an insurance density of 6 2 per cent He said these indices showed that Nigerian Insurance Industry still lagged behind its African counterparts as South Africa currently had a penetration rate of 14 7 per cent Kenya 2 8 per cent Ghana 1 1 per cent and Egypt 0 6 per cent The insurance industry presents perhaps the most remarkable investment case of any industry in Nigeria and despite present challenges it presents numerous opportunities for enhancing the economic fortunes of this country Foreign investors recognising these opportunities have acted accordingly with the likes of AXA Prudential Liberty Swiss Re SUNU Group Saham Group taking strategic positions in the industry An estimated capital of N200billion is expected to be injected into the Nigerian insurance industry post recapitalization with a 400 per cent increase in the minimum capital required for life 333 per cent for non life 360 per cent for composite and 200 per cent for re insurance While I am optimistic that this directive by the industry regulator would enhance performance bring about efficiency innovation and profitability the industry needs significant support to unleash its growth potential At the NSE we see close parallels between this recapitalisation and that of the banking sector in 2005 The immense growth seen in banking industry in large part can be attributed to successful capital raised through the capital market The crucial question before us is unravelling how to replicate similar successes within the insurance space and leverage the platform of The Exchange to successfully raise rightsized capital to fuel accelerated growth The NSE provides a platform to support listed corporates to meet their business objectives whilst also implementing strategic initiatives that have improved investor confidence This has allowed listed companies to be positioned on the Exchange as attractive investment opportunities he said According to him the NSE is working to ensure positive impact to the private sector and especially the listed companies through policy advocacy and strategy execution efforts The NSE continues to engage the Federal Government on tax incentives for listed companies and exemption relating to investments in the capital market We are delighted to note that we have made some strides in our discussions some of which are evident in the proposed amendments to The Finance Bill 2019 which has now been passed by both Houses of the National Assembly With the ongoing recapitalisation exercise we will encourage the insurance operators by providing a special window to fast track the approval process provided the operators have demonstrated high standards of corporate governance deep social impact high regulatory compliance and enhanced returns for their shareholders For the Post recapitalisation we look forward to having our first insurance company listed on the Premium Board of the NSE he said NAN reports that stakeholders in the insurance industry were present at the event to brainstorm and map out ways to tackle the sector s challenges Edited by Oluwole Sogunle NAN Related
    Insurance recapitalisation exercise will strengthen sector’s growth, development  — Onyema
      The Chief Executive Officer Nigerian Stock Exchange NSE Mr Oscar Onyema on Tuesday said that the upward review of the paid up capital in the insurance industry would strengthen the growth and development of the sector Onyema made the remark at the NSE Insurance Sector Forum with the theme Recapitalisation A Panacea for Insurance Industry Growth held in Lagos According to him the ongoing recapitalisation and consolidation exercise is expected to significantly impact the industry and equally present new opportunities in mergers and acquisitions as well as private equity and public offerings The Nigeria News Agency reports that National Insurance Commission NAICOM in exercise of its statutory powers and regulatory functions on May 20 reviewed the minimum paid up share capital requirement for all Insurance and Reinsurance companies The directive does not apply to Takaful operators and Micro insurance companies doing business in Nigeria Following the reviewed minimum capital requirement the existing minimum paid up capital share of Life Insurance business was reviewed and raised from N2 billion to N8 billion General Insurance business was raised from N3 billion to N10 billion Composite business from N5 billion to N18 billion and Reinsurance business from N10billion to 20 billion The new paid up share capital requirement took immediate effect for new applications made to NAICOM by companies seeking to carry on insurance business in Nigeria However existing insurance and reinsurance companies were required to fully comply with the new minimum capital requirement not later than June 30 2020 Onyema said that the NSE saw close parallels between the recapitalisation and that of the banking sector in 2005 He said that the immense growth seen in banking industry in large part could be attributed to successful capital raised through the capital market The NSE chief reviewed the performance of the insurance industry over the years the challenges being faced and what the future held The Nigerian Insurance industry has grown remarkably over the years generating a Gross Premium Income GPI of N448 6 bn in 2018 reflecting a 12 per cent growth from 2017 The industry also recorded an increase in its asset base by an estimated sum of N1 3 trillion as at December 31 2018 reflecting a 17 per cent Compound Annual Growth Rate over the last three years According to the National Bureau of Statistics the Insurance sector recorded a nominal growth rate of 6 69 per cent and a real GDP growth rate of 3 96 per cent in Q3 2019 from 4 48 per cent in Q2 2019 and 1 03 per cent in Q3 2018 Although this data indicates a positive outlook in the Nigerian insurance industry the reality and headwinds faced by operators in the sector are quite formidable Many licensed insurers are largely undercapitalised thus limiting their ability to take on big ticket in country risks as is often required in the oil and gas marine and aviation sectors According to Onyema as at Q3 2019 the insurance sector contributed less than one per cent to the Gross Domestic Product GDP of Nigeria and a penetration rate of 0 31 per cent and an insurance density of 6 2 per cent He said these indices showed that Nigerian Insurance Industry still lagged behind its African counterparts as South Africa currently had a penetration rate of 14 7 per cent Kenya 2 8 per cent Ghana 1 1 per cent and Egypt 0 6 per cent The insurance industry presents perhaps the most remarkable investment case of any industry in Nigeria and despite present challenges it presents numerous opportunities for enhancing the economic fortunes of this country Foreign investors recognising these opportunities have acted accordingly with the likes of AXA Prudential Liberty Swiss Re SUNU Group Saham Group taking strategic positions in the industry An estimated capital of N200billion is expected to be injected into the Nigerian insurance industry post recapitalization with a 400 per cent increase in the minimum capital required for life 333 per cent for non life 360 per cent for composite and 200 per cent for re insurance While I am optimistic that this directive by the industry regulator would enhance performance bring about efficiency innovation and profitability the industry needs significant support to unleash its growth potential At the NSE we see close parallels between this recapitalisation and that of the banking sector in 2005 The immense growth seen in banking industry in large part can be attributed to successful capital raised through the capital market The crucial question before us is unravelling how to replicate similar successes within the insurance space and leverage the platform of The Exchange to successfully raise rightsized capital to fuel accelerated growth The NSE provides a platform to support listed corporates to meet their business objectives whilst also implementing strategic initiatives that have improved investor confidence This has allowed listed companies to be positioned on the Exchange as attractive investment opportunities he said According to him the NSE is working to ensure positive impact to the private sector and especially the listed companies through policy advocacy and strategy execution efforts The NSE continues to engage the Federal Government on tax incentives for listed companies and exemption relating to investments in the capital market We are delighted to note that we have made some strides in our discussions some of which are evident in the proposed amendments to The Finance Bill 2019 which has now been passed by both Houses of the National Assembly With the ongoing recapitalisation exercise we will encourage the insurance operators by providing a special window to fast track the approval process provided the operators have demonstrated high standards of corporate governance deep social impact high regulatory compliance and enhanced returns for their shareholders For the Post recapitalisation we look forward to having our first insurance company listed on the Premium Board of the NSE he said NAN reports that stakeholders in the insurance industry were present at the event to brainstorm and map out ways to tackle the sector s challenges Edited by Oluwole Sogunle NAN Related
    Insurance recapitalisation exercise will strengthen sector’s growth, development  — Onyema
    Economy3 years ago

    Insurance recapitalisation exercise will strengthen sector’s growth, development  — Onyema

    The Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema on Tuesday said that the upward review of the paid-up capital in the insurance industry would strengthen the growth and development of the sector.

    Onyema made the remark at the NSE Insurance Sector Forum with the theme: Recapitalisation: A Panacea for Insurance Industry Growth, held in Lagos.

    According to him, the ongoing recapitalisation and consolidation exercise is expected to significantly impact the industry and equally present new opportunities in mergers and acquisitions as well as private equity and public offerings.

    The Nigeria News Agency reports that National Insurance Commission (NAICOM), in exercise of its statutory powers and regulatory functions, on May 20 reviewed the minimum paid-up share capital requirement for all Insurance and Reinsurance companies.

    The directive does not apply to Takaful operators and Micro-insurance companies doing business in Nigeria.

    Following the reviewed minimum capital requirement, the existing minimum paid-up capital share of Life Insurance business was reviewed and raised from N2 billion to N8 billion.

    General Insurance business was raised from N3 billion to N10 billion; Composite business from N5 billion to N18 billion; and Reinsurance business from N10billion to 20 billion.

    The new paid-up share capital requirement took immediate effect for new applications made to NAICOM by companies seeking to carry on insurance business in Nigeria.

    However, existing insurance and reinsurance companies were required to fully comply with the new minimum capital requirement not later than June 30, 2020.

    Onyema said that the NSE saw close parallels between the recapitalisation and that of the banking sector in 2005.

    He said that the immense growth seen in banking industry in large part could be attributed to successful capital raised through the capital market.

    The NSE chief reviewed the performance of the insurance industry over the years, the challenges being faced and what the future held.

    The Nigerian Insurance industry has grown remarkably over the years, generating a Gross Premium Income (GPI) of N448.6 bn in 2018, reflecting a 12 per cent growth from 2017.

    The industry also recorded an increase in its asset base by an estimated sum of N1.3 trillion as at December 31, 2018, reflecting a 17 per cent Compound Annual Growth Rate over the last three years.

    According to the National Bureau of Statistics, the Insurance sector recorded a nominal growth rate of 6.69 per cent and a real GDP growth rate of 3.96 per cent in Q3 2019 from 4.48 per cent in Q2 2019 and 1.03 per cent in Q3 2018.

    Although, this data indicates a positive outlook in the Nigerian insurance industry, the reality and headwinds faced by operators in the sector are quite formidable.

    Many licensed insurers are largely undercapitalised, thus limiting their ability to take on big ticket in-country risks, as is often required in the oil and gas, marine and aviation sectors.

    According to Onyema, as at Q3 2019, the insurance sector contributed less than one per cent to the Gross Domestic Product (GDP) of Nigeria and a penetration rate of 0.31 per cent and an insurance density of 6.2 per cent.

    He said these indices showed that Nigerian Insurance Industry still lagged behind its African counterparts, as South Africa currently had a penetration rate of 14.7 per cent, Kenya 2.8 per cent, Ghana 1.1 per cent and Egypt 0.6 per cent.

    The insurance industry presents perhaps the most remarkable investment case of any industry in Nigeria and despite present challenges, it presents numerous opportunities for enhancing the economic fortunes of this country.

    Foreign investors, recognising these opportunities have acted accordingly with the likes of AXA, Prudential, Liberty, Swiss Re, SUNU Group, Saham Group, taking strategic positions in the industry.

    An estimated capital of N200billion is expected to be injected into the Nigerian insurance industry post-recapitalization with a 400 per cent increase in the minimum capital required for life, 333 per cent for non-life, 360 per cent for composite and 200 per cent for re-insurance.

    While I am optimistic that this directive by the industry regulator would enhance performance, bring about efficiency, innovation and profitability, the industry needs significant support to unleash its growth potential.

    At the NSE, we see close parallels between this recapitalisation and that of the banking sector in 2005. The immense growth seen in banking industry in large part can be attributed to successful capital raised through the capital market.

    The crucial question before us is unravelling how to replicate similar successes within the insurance space and leverage the platform of The Exchange to successfully raise rightsized capital to fuel accelerated growth.

    The NSE provides a platform to support listed corporates to meet their business objectives whilst also implementing strategic initiatives that have improved investor confidence. This has allowed listed companies to be positioned on the Exchange as attractive investment opportunities,” he said.

    According to him, the NSE is working to ensure positive impact to the private sector and especially the listed companies through policy advocacy and strategy execution efforts.

    The NSE continues to engage the Federal Government on tax incentives for listed companies and exemption relating to investments in the capital market.

    We are delighted to note that we have made some strides in our discussions, some of which are evident in the proposed amendments to The Finance Bill 2019, which has now been passed by both Houses of the National Assembly.

    With the ongoing recapitalisation exercise, we will encourage the insurance operators by providing a special window to fast-track the approval process, provided the operators have demonstrated high standards of corporate governance, deep social impact, high regulatory compliance and enhanced returns for their shareholders.

    For the Post-recapitalisation, we look forward to having our first insurance company listed on the Premium Board of the NSE,” he said.

    NAN reports that stakeholders in the insurance industry were present at the event to brainstorm and map out ways to tackle the sector’s challenges.

    Edited by: Oluwole Sogunle
    (NAN)
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