Muscat: The Capital Market Authority (CMA) has issued a disciplinary warning to Al Afdhal Insurance Services (Insurance Agent), the authority has announced.
The warning, according to officials, was issued for violating Clause (4) of Article (12) of the Regulation for Licensing Requirements for Insurance Agents for charging commissions.
In a statement online, CMA said, “Article 12/4 of the Regulation for Licensing Requirements for Insurance Agents provides that the agent shall not receive any commission or fees from the insurance applicant, the insured or beneficiary.”
The company can still appeal the decision, as the time limit for appealing has not yet expired.
Oman’s Capital Market Authority issues disciplinary warning to insurance firm
Times of Oman Contribution Time: 11-Dec-2018 03:26
(GMT)
Times of Oman Last Update Time: 11-Dec-2018 03:26
(GMT)
