On the sidelines of the ninth International Insurance Conference, Aqaba 2023 (Togethers We Build the Future) organized by the Insurance Federation in cooperation with the General Arab Insurance Federation with the aim of strengthening relations between the insurance and the banking sector, exchanging scientific and human experiences and joint cooperation to achieve common goals. The Secretary-General of the General Arab Federation for Insurance, His Excellency Mr. Nayef Al-Fayez, Chairman of the Board of Commissioners of the Aqaba Special Economic Zone Authority, Eng. Majid Smeirat, President of the Jordanian Federation of Insurance Companies, and Ms. Rana Tahboub / Executive Director / Directorate of Supervision of Insurance Business at the Central Bank of Jordan, and in the presence of approximately (1000) participants from (40) Arab and foreign countries.

The signing of this agreement came as part of the Union’s efforts to coordinate with service partners to provide financial and banking services since both sectors share many issues including being subject to the supervision of the Central Bank of Jordan and the future prospects for cooperation between them to benefit from banks as distribution channels for insurance products especially microinsurance.

The agreement aims to provide a general framework to facilitate cooperation between the federation and the association and to establish many joint activities such as training courses, workshops and conferences. The agreement also included a number of advantages for both parties.

The agreement was signed by Dr. Muayyad Al-Kalub, Director of the Federation, and Dr. Maher Al-Mahrouq, Director General of the Association. It is worth noting that the Federation has several cooperation agreements with Arab insurance unions such as the Egyptian Federation of Insurance, the Palestinian Federation of Insurance Companies, the Emirates Insurance Association, the World Federation of Takaful Companies and a number of economic and service institutions in Jordan in line with its mission and basic objectives.