This law regulates the organization, operation and operation of Insurance and Securities Societies. All institutions will be constituted by anonymous, fixed capital societies whose minimum capital will be determined by the regulator.
All societies should establish an efficient corporate governance structure guaranteeing the prudent operation of their activities. In addition, each institution's auditing committee must ensure that the company complies with all internal and external auditing requirements.
This Law also includes guidelines for the establishment and regulation of Insurance Consortiums, reinsurance intermediaries, and reinsurance organizations.