Iran mulls liberalisation

The liberalisation of the of the state-run Iranian insurance market is entering a new phase. The Central Insurance Council of Iran (CICI) is to recommended to the Iranian Parliament that private insurance companies be allowed to operate in the market. The CICI described the move as important for the for the development of the Iranian insurance industry by making it more efficient and competitive. “Non-governmental insurance institutions will enhance the role of insurance in the country’s economic development and growth and will limit national loss,” the CICI argues in the single article bill which it will present to the Iranian parliament. Many of the members first elected during the last election are known to be sympathetic to measured privatisation and liberalisation of the economy.