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World Bank’s MIGA insures 3 major companies in Afghanistan

The World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) has so far insured three major companies in Afghanistan in an bid to promote foreign direct investment in the country. Collectively worth USD 154mn, these companies are insured against losses incurred

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Fire in Kabul market inflicts millions of dollars of losses on traders

Fire erupted in the footwear section of Kabul’ Mandawi market on Saturday morning and left 370 shops in ashes. According to latest reports, the fire has inflicted millions of dollars of losses to traders. The fire was reportedly caused by

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Afghanistan’s Insurance Association receives funds from USAID-FAIDA

The Financial Access for Investing in the Development of Afghanistan (FAIDA), which works within the framework of the United States Agency for International Development (USAID), has awarded a grant to Afghanistan’s Insurance Personnel Association (AIPA). AIPA is a recently established

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ICA introduces Afghanistan’s first ever private health insurance

The Insurance Corporation of Afghanistan (ICA) announced release of its comprehensive private health insurance, which is introduced for the first time in Afghanistan. The product comes with international standards features including comprehensive inpatient and outpatient healthcare coverage, access to approved

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Fire insurance made mandatory on private schools in Afghanistan

The Afghan Ministry of Education has required all private schools to seek insurance coverage against fire risks. Representatives of the private schools, insurance authorities and representatives of Afghan insurance companies met Monday to confer on how to meet the insurance

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Afghan banks should require insurance certificate before providing loans: Delawari

Da Afghanistan Bank (DAB) Chief  Noorullah Delawari stressed on the importance of insurance for the banking sector in Afghanistan at a conference held by the Afghanistan Insurance Authority (AIA) on Monday. Delawari said banks loan provision by the banks should

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Insurance Corporation of Afghanistan launches travel insurance package

Afghanistan’s first private insurance company, Insurance Corporation of Afghanistan (ICA), launches its travel insurance package which offers a wide range of benefits.  The package includes Personal Accident Insurance, Emergency Medical Expenses (up to a limit of USD 1m) Travel Inconvenience,

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Government’s inattention to lives of mineworkers infuriates National Union of Afghanistan Workers

The National Union of Afghanistan Workers strongly criticized the Afghan government for their inattention to the lives of mineworkers. At a press conference in Kabul, Union Head Maaroof Qaderi cited government’s negligence as the main reason behind the deaths and

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Government's inattention to lives of mineworkers infuriates National Union of Afghanistan Workers

The National Union of Afghanistan Workers strongly criticized the Afghan government for their inattention to the lives of mineworkers. At a press conference in Kabul, Union Head Maaroof Qaderi cited government’s negligence as the main reason behind the deaths and

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An Afghan female employee steals USD 1 million from Azizi Bank and escapes

An Afghan female employee transferred USD 1.1mn from Azizi Bank and has left Afghanistan. According to reports, the employee has transferred the amount to a relative’s bank account outside of Afghanistan and has escaped from the country together with her

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3 more insurance companies to open in Afghanistan

Insurance Department of the Ministry of Finance announced Sunday that three more insurance companies are going to start operating in Afghanistan. This comes amid concerns about the underdeveloped situation of the insurance sector. Addressing a training workshop in Kabul on

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Unlicensed insurance business gouging revenue away from Afghanistan

Afghan authorities are urged to clamp down unlicensed international insurance groups that are taken up much of the fiscal revenue. The Afghan law requires that any insurance that is bought from outside of Afghanistan must go through a local carrier.

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Fire insurance coverage for companies is mandatory-Afghan Ministry of Finance

The Ministry of Finance has announced that businesses and foreign organizations without fire insurance coverage would not receive a license to operate in Afghanistan. Fire insurance has been made mandatory on all local and foreign companies and businesses. “All organizations,

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Afghan insurance companies attend the 3rd annual MENA Insurance Summit

The 3rd Annual Middle East and Africa Insurance Summit was held in Dubai city on January 14th and 15th  to hear real time updates and share solutions for overcoming the latest challenges in the field of insurance in the region.

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Two months deadline given for Afghan businesses to get insurance

Afghan Ministry of Finance issued a two-month deadline for all commercial businesses in the country to get insurance in order to be able to operate in the country. The Cabinet of Ministers decided to enforce mandatory insurance law for all

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Afghan government makes insurance mandatory

The Minister’s Cabinet decided to enforce mandatory insurance law for all commercial markets in the country. The decision was put forward at a meeting chaired by President Hamid Karzai on Monday afternoon. The meeting comes after the recent fire incident

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Afghans’ need for political violence insurance

Security is an important aspect here in Afghanistan. It cannot have escaped even the most casual observers notice that violent incidents directed at Military, NGO’s and Civilian targets have shown a dramatic increase on 2011 levels, some reports indicate this

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Afghans' need for political violence insurance

Security is an important aspect here in Afghanistan. It cannot have escaped even the most casual observers notice that violent incidents directed at Military, NGO’s and Civilian targets have shown a dramatic increase on 2011 levels, some reports indicate this

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Afghanistan one of the recipients of the Peace through Commerce Medal

The International Trade Administration’s Peace through Commerce medal has recognized eight individuals and organizations that have played a crucial and proactive role in increasing trade and strengthening their countries’ overall relations. The Peace through Commerce Medal dates back to the

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Insurance Services and its Problems in Afghanistan

Despite the presence of four insurance companies in Afghanistan, individual insurance coverage is yet not available in Afghanistan and majority of people’s property are not indemnified. The culture of insurance is not as widespread among the general public. The insurance

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Demands for strengthening of insurance field in Afghanistan

Currently, a limited number of insurance companies are active in Afghanistan. Since these companies have failed to win people’s trust, they have failed to insure bigger businesses. A number of traders from the private sector and common people say that

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