Finance: Insurance sector supports the growth of Iraq's economy

BAGHDAD / Obelisk: confirmed the Ministry of Finance, on Wednesday, that the insurance industry contributes to and supports economic growth in Iraq, and showed that the insurance sector in Iraq during the past years and participated in relative support in the country's economy. The head of the insurance in the ministry and agency, Faisal Manhal in an interview with the local media and I followed "obelisk", he "is not in Iraq, the insurance sector only, but in all countries of the world, the main Alrkiz in dealing with financial crises and helping to overcome as in the event in the states different as America, "pointing out that" this sector has positive returns not only for the country, but to his audience of citizens, because it is a guarantee of their rights and the preservation of their property. " He manholes that "the insurance sector in Iraq during the past years in relative participated in supporting the country's economy, but in light of the current conditions of the country and to raise awareness of this sector is contributing to the growth of the country's economy and participation in the support by grouping reserve funds are available and ready to contribute." .
He predicted Manhal "increase the believers in the three ministry companies and the private sector through increase registered on the insurance sector and those who felt that maintaining their properties is through the insured and in different sectors (agricultural and engineering and individuals land, sea and air transport, etc.), as well as the recent events that have been her some markets and houses in different provinces. "

The insurance sector in Iraq three insurance companies and government, are all from the National Insurance Company, the Iraqi and the insurance company, and re-insurance company, along with 29 insurance companies and civil branches of foreign insurance companies.

Founded Insurance Bureau and derived his powers under the Insurance Regulatory Act of 2005, which is an independent body headed by President of the Board is responsible for determining the policies and procedures College of instructions insurance business, also identifies Court due to institutions and companies applied and adhered to standards and take action against that do not comply, including those criteria.