Latest news with #AhmedbinAlialMaamari
Zawya
30-04-2025
- Business
- Zawya
Oman hosts seminar on expanding insurance coverage in MENA
MUSCAT: The Sultanate of Oman, represented by the Financial Services Authority (FSA), is hosting the third Regional Joint Seminar on the theme, "Expanding Insurance in the Middle East and North Africa: Key Challenges and Market Development Opportunities." The two-day forum, which began at the W Hotel Muscat, is also supported by the Insurance and Social Welfare Supervisory Authority of Morocco and the International Association of Insurance Supervisors (IAIS). The seminar brings together leading figures in regulatory bodies, insurance companies, and industry experts from the Arab world and beyond. The seminar is a key platform for promoting regional cooperation, exchanging experience, and debating the emerging challenges and opportunities for the insurance sector amidst rapid economic and technological change. The programme consists of a series of panel sessions and expert workshops, with priorities being strengthening regulatory frameworks to remain in line with international developments, broadening the actuarial function to foster financial stability, and examining opportunities for digital innovation to drive sectorial development. Ahmed bin Ali al Maamari, FSA Vice President – Insurance, commented: "Legislators and regulators from the Middle East and North Africa (MENA) region met today with international organisations to discuss the region's most pressing challenges, including climate change, cyber security, and geopolitical tensions." Al Maamari added: "The meeting aims to foster cooperation and develop pragmatic solutions, with a specific focus on the insurance sector's role in the management of emerging risks. Issues under consideration include the creation of new insurance products to support economic resilience and social stability, and fostering technology initiatives while inserting regulatory and societal safeguards.' Ahmed bin Salim al Harassi, Director General of the Market Regulation and Development Unit stated, "This regional conference is being organized to address the key regulatory challenges facing authorities across the Middle East and North Africa, with a particular focus on the challenge of climate change and the increasing frequency of natural disasters in the Sultanate of Oman.". The event also highlights the growing need for effective post-disaster financial response mechanisms, which renders the insurance sector a key industry in the provision of financial protection. The discussions also surround the digitalization of insurance services, both the potential and cyber security risk it brings," Al Harassi added. "Regulators are also figuring out how to align domestic frameworks with international standards, balancing compliance with the need to foster innovation. As part of this, the uptake of risk-based supervision is being promoted — intensifying oversight where risks are great, while offering flexibility in less risky domains to foster growth and innovation," he concluded. Siham Ramli, Director of International Relations and Communication at Morocco's Insurance and Social Welfare Supervisory Authority, said, "Previously perceived as a sheer financial support tool, the insurance sector has developed into a pillar of social protection and inclusive economic development. It is now leading in covering an extensive array of society's risks — environmental, health, digital, and economic," she said. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
29-04-2025
- Business
- Observer
Oman hosts seminar on expanding insurance coverage in MENA
MUSCAT: The Sultanate of Oman, represented by the Financial Services Authority (FSA), is hosting the third Regional Joint Seminar on the theme, "Expanding Insurance in the Middle East and North Africa: Key Challenges and Market Development Opportunities." The two-day forum, which began at the W Hotel Muscat, is also supported by the Insurance and Social Welfare Supervisory Authority of Morocco and the International Association of Insurance Supervisors (IAIS). The seminar brings together leading figures in regulatory bodies, insurance companies, and industry experts from the Arab world and beyond. The seminar is a key platform for promoting regional cooperation, exchanging experience, and debating the emerging challenges and opportunities for the insurance sector amidst rapid economic and technological change. The programme consists of a series of panel sessions and expert workshops, with priorities being strengthening regulatory frameworks to remain in line with international developments, broadening the actuarial function to foster financial stability, and examining opportunities for digital innovation to drive sectorial development. Ahmed bin Ali al Maamari, FSA Vice President – Insurance, commented: "Legislators and regulators from the Middle East and North Africa (MENA) region met today with international organisations to discuss the region's most pressing challenges, including climate change, cyber security, and geopolitical tensions." Al Maamari added: "The meeting aims to foster cooperation and develop pragmatic solutions, with a specific focus on the insurance sector's role in the management of emerging risks. Issues under consideration include the creation of new insurance products to support economic resilience and social stability, and fostering technology initiatives while inserting regulatory and societal safeguards.' Ahmed bin Salim al Harassi, Director General of the Market Regulation and Development Unit stated, "This regional conference is being organized to address the key regulatory challenges facing authorities across the Middle East and North Africa, with a particular focus on the challenge of climate change and the increasing frequency of natural disasters in the Sultanate of Oman.". The event also highlights the growing need for effective post-disaster financial response mechanisms, which renders the insurance sector a key industry in the provision of financial protection. The discussions also surround the digitalization of insurance services, both the potential and cyber security risk it brings," Al Harassi added. "Regulators are also figuring out how to align domestic frameworks with international standards, balancing compliance with the need to foster innovation. As part of this, the uptake of risk-based supervision is being promoted — intensifying oversight where risks are great, while offering flexibility in less risky domains to foster growth and innovation," he concluded. Siham Ramli, Director of International Relations and Communication at Morocco's Insurance and Social Welfare Supervisory Authority, said, "Previously perceived as a sheer financial support tool, the insurance sector has developed into a pillar of social protection and inclusive economic development. It is now leading in covering an extensive array of society's risks — environmental, health, digital, and economic," she said.
Observer
20-04-2025
- Health
- Observer
National health insurance goes digital with ‘Dhamani'
MUSCAT, APRIL 20 Oman marked the official launch of the national health insurance platform "Dhamani", a milestone accomplishment in the modernization of the nation's healthcare and insurance industries. Announced by the Financial Services Authority (FSA), the platform is technically and legislatively complete, offering integrated digital services to regulate the health insurance market. "Dhamani" facilitates seamless data and claim exchanges between insurance companies and private healthcare providers, besides creating unified medical records accessible by policyholders across private institutions. Shaikh Abdullah bin Salem al Salmi, CEO of the FSA, stated that the platform was a "qualitative leap" for Oman's insurance market, in alignment with Oman Vision 2040 agenda to promote digital infrastructure and increase access to essential services. During its trial phase, "Dhamani" settled nearly three million transactions during the first quarter of 2025, with 33 private hospitals and three health complexes already linked. All the insurance companies that are licensed are now part of the system, prior to full operational rollout across the remaining private clinics and healthcare facilities. FSA Insurance Sector Vice President Ahmed bin Ali al Maamari said: "The recently launched "Dhamani" health insurance platform will significantly enhance the level of health care services in the Sultanate. Through the platform's streamlining of the approval process for treatment requests and enabling of electronic payment between hospitals and insurance companies, the Sultanate's policyholders will be in a position to obtain faster, more reliable services," he stated. "All 33 private hospitals licensed by the Ministry of Health are now fully integrated into the system. Authorities confirmed that efforts are underway to continue expanding the platform's reach by including health centres, clinics, and pharmacies, increasing supervision and the overall experience of healthcare in the private sector," Al Maamari added The system also promises the possibility of faster settlement of claims to private hospitals, better fraud detection, and access to a centralized database of diagnoses and treatments—vital tools for regulatory control and healthcare planning. It employs cutting-edge medical coding systems and cybersecurity protocols, with secure and efficient transmission of information. With more than 650,000 policyholders covered at present and an average of 40,000 transactions occurring daily, "Dhamani" is expected to simplify administrative procedures, reduce healthcare costs, and improve overall service delivery. The FSA developed the platform in coordination with the major stakeholders like the Ministry of Health, Ministry of Labour, and Invest Easy. This digitalization is backed by new legislation, like Regulation No. 83/2023, which governs electronic integration in the insurance sector. The FSA has amended the legal framework to provide rights, enforce compliance, and permit faster, tech-enabled registration, claims, and reimbursements. By bridging gaps in the current system and providing one digital backbone, "Dhamani" is a beacon of innovation—a single system that will enhance transparency, improve efficiency, and render Oman's healthcare system more accessible and sustainable for generations to come.
