International cooperation
In a context of market globalization and with the objective to reach international supervision standards, ACAPS adopts a voluntarist policy for international cooperation.
This policy aims to develop close cooperation with its counterparts and international regulators, such as IAIS, ISSA or IOPS. This international policy aims to enable ACAPS to benefit from forums for the exchange of best practices in terms of governance or regulation and to comply with international standards. The Authority also represents the Government in matters of international cooperation in its field of intervention.
Information exchange agreement between ACAPS and the Inter-African Insurance Markets Conference (CIMA) - April 2015
Agreement for collaboration, exchange of information and expertise between ACAPS and the General Insurance Committee (CGA) - April 2016.
Agreement for the exchange of information, general cooperation and coordination in the field of insurance supervision, between ACAPS and the Autorité de contrôle prudentiel et de résolution (ACPR) - December 2017
On April 25 in Lomé (Togo), ACAPS signed a partnership agreement with the Conférence Interafricaine de la Prévoyance Sociale (CIPRES) aimed at strengthening cooperation and the exchange of experience and expertise in the supervision of the social welfare sector. The aim of this partnership is to facilitate the exchange of knowledge, expertise and tools in the field of social welfare supervision. It will also establish a broader framework for the exchange and sharing of best practices, promote mutual support in research and consultancy, and contribute to the harmonization of standards and control practices in the social security sector.
The agreement is also part of a drive to promote Morocco's vision of South-South cooperation, through the development of links and partnerships, particularly with African countries, with a view to developing solutions tailored to local issues and optimizing resources and skills.
ABOUT CIPRES:
The Inter-African Conference on Social Security (CIPRES) is an international organization created by the treaty signed on September 21, 1993 in Abidjan by the Ministers responsible for Social Security and their counterparts in Finance from 14 West and Central African countries. Currently, CIPRES has 17 member states and is responsible in particular for promoting social security and supporting actions aimed at its extension in member states. It is also responsible for establishing common management rules applicable to social security organizations, establishing permanent monitoring of their management to better guarantee the interests of insured persons and facilitating the implementation of specific actions at the regional level.
Initiated during the last quarter of 2016, cooperation with the Ministry of Finance and Budget of the Republic of Madagascar resulted in the signing of a Memorandum of Understanding in June 2018 for the exchange of knowledge, expertise and skills.
On November 28th, 2017, The Supervisory Authority of Insurance and Social Welfare (ACAPS) signed a memorandum of understanding with the Insurance Regulation and Control Authority (Democratic Republic of Congo). This Memorandum of Understanding aims to promote cooperation and development of the insurance sector between the two countries. It also aims to exchange knowledge, expertise and skills.
Initiated during 2017, the cooperation between ACAPS and the Insurance Authority (IA) of the United Arab Emirates resulted on 30 September 2018 in the signature of a Memorandum of Understanding for cooperation and exchange of expertise.
This Memorandum of Understanding aims to promote cooperation and the exchange of knowledge, expertise and skills between the two authorities.
Memorandum of Understanding for mutual assistance with the National Insurance Commissioners (NAIC) of United States of America – January 2019
NAIC is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.
Memorandum of Understanding on Cooperation and exchange of expertise with the Financial Services and Markets Authority (FSMA) of the Kingdom of Belgium – Mars 2019
The Financial Services and Markets Authority (FSMA) is the Belgian authority in charge of the supervision of the financial sector. It ensures that the financial consumer is treated ethically, correctly and fairly and aims at transparency and fair functioning of the financial markets.
The Supervisory Authority of Insurance and Social Welfare (ACAPS) proceeded on March 16th, 2022 in the Omani capital Muscat, to the signing of a Memorandum of Understanding with the Capital Market Authority of the Sultanate of Oman (CMA) in the field of supervision and control of the insurance sector.
This agreement aims at strengthening bilateral cooperation and exchanging information in the field of insurance on the basis of mutual interests.
The Supervisory Authority of Insurance and Social Welfare (ACAPS) signed a memorandum of understanding (MoU) with the Financial Regulatory Authority of Egypt (FRA) in the field of supervision and control of the insurance sector.
This agreement aims to strengthen coordination between the two authorities and aims to develop the exchange of experience and expertise between the two institutions and to reinforce bilateral cooperation, especially in terms of strengthening skills and harmonizing legislation with international standards.
The two sides also intend to foster mutual support in research and consulting to promote best practices and to develop the insurance sector.
About the FRA
The Financial Regulatory Authority of Egypt is a public authority responsible for supervising and regulating non-bank financial markets and instruments, including the capital market, the stock market and all activities related to insurance services, mortgage financing, etc. Its mission, among others, is to regulate the market and ensure its stability and competitiveness in order to attract more local and foreign investments, in order to achieve a balance of customer rights in the non-banking financial markets, and to issue rules that ensure the efficiency and transparency of the activities of the sectors it regulates.
