Friday 19 / April / 2024
Muscat: The Capital Market Authority has issued a decision to suspend 36 insurance agents working for various insurance companies after the deadline set for reconciling their positions has ended. According to the CMA the insurance agents failed to achieve 100 per cent Omanisation during the period given.
The Authority clarified that the decision was issued on the companies violation of the provisions of Article No. (4) Clause (9 / A) of the Regulations of Licensing Requirements for Insurance Company Agents due to their lack of commitment to adjust their status in accordance with the provisions of the Regulation related to Omanisation of Insurance Company Agents' activities in the stipulated percentage which is 100 per cent.
