New Micro Insurance Regulation in Afghanistan
Today, a capacity-building workshop for 35 stakeholders from government entities and the private sector took place in Kabul to discuss the current micro-insurance regulatory framework in Afghanistan and market development issues. The Afghan-German Cooperation’s project the Open Policy Advisory Fund (OPAF) organised both events and advised the GDIA to draft the micro-insurance regulation.
When opening the seminar, the Deputy Minister of Finance Mr Kohestani emphasised: “The Ministry of Finance sees an urgent need for the micro-insurance framework to form a legal basis and attract internal as well as external insurance companies to invest in Afghanistan. The micro insurance framework will also support people with a low income.”
During both workshops, the new draft micro-insurance regulation was presented and feedback was documented to help finalise the regulatory framework. The seminar also gave an opportunity to stimulate discussions on the micro-insurance market developments in Afghanistan and to measure its performance when it comes to client-value. Implications when implementing the new regulations were part of the debate.
The Open Policy Advisory Fund (OPAF) is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ). Since 2009, the project has been financing the deployment of expertise in Afghan institutions and training their staff to build capacities and facilitate the implementation of reforms in line with good governance criteria. Among other activities, the project has been organising professional or job-specific training for 130 employees working at state institutions so far, including courses on finance, data analysis and corruption assessment. At the same time, the project has been supporting the Independent Joint Anti-Corruption and Evaluation Committee (MEC) in producing seven reports on state institutions’ vulnerability to corruption.