BAHRAIN INTRODUCES QUALIFICATION REQUIREMENTS FOR INSURANCE STAFF

The Central Bank of Bahrain has issued new rules that require representatives of insurance companies to have a minimum qualification. The Bank said that it was the first Middle Eastern regulator to introduce such requirements. The Bahrain Institute of Banking and Finance and the Chartered Insurance Institute worked together to introduce what they described as an internationally recognized qualification with a regional emphasis. The qualification requires 35 study hours and a written exam. CII MENA region head Mark Greenwood said that “the CII has been working with insurance regulators and the industry throughout the region and we hope this is the first of many such initiatives”. He also noted that it was the first time that the CII had produced its qualifications in a language other than English.