Orders against insurance companies issued by SECP. U.S. Securities and Exchange Commission (SEC) against the supplier of Islamic insurance companies and life insurance, in violation of the Ordinance on the insurance “the Companies Ordinance, 2000, 1984 orders Tuesday .
According to the statement issued to the press by monitoring the stock market, the Islamic insurance company has made the order does not comply with the provisions of the Insurance Ordinance, 2000 and the Companies Ordinance 1984, an order of the said exemption under the conditions indicated, section 187 (h) of the companies Ordinance 1984.
On the other hand, the life insurance companies under the Insurance Ordinance, 2000 to appeal against the decision of the Federal Insurance Ombudsman.
In April this year, the SEC issued 13 warning letters to the four-show for violation of company law, insurance law and accounting standards and regulations with the provisions of the insurance and takaful business opinions.
These warnings reasons notices, orders, SECP issued 13 After the hearing, the Department of Insurance.
In the interests of transparency and to provide equal opportunity to all insurance surveyor, Pakistan Insurance Association authorized SECP will be issued on the basis of a license, inspection and test the ability of the surveyor.
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