Head of the Insurance Regulatory Body in Afghan Finance Ministry Mohammad Arif Hamidi said that the insurance authority of Afghanistan will take necessary steps to encourage private companies, factories and investors to insure their activities.
Mr. Hamidi further added, currently three insurance companies are operating in Afghanistan.
This comes as the Ministry of Finance of Afghanistan earlier this year announced that no business will be able to operate in the country without insuring their properties by next Afghan year.
The Afghan ministers’ cabinet meeting chaired by Afghan president Hamid Karzai last year also decided to enforce mandatory insurance law for all commercial zones in Afghanistan.
Afghan finance ministry was also ordered to enforce compulsory insurance for all commercial zones within the next three months after a huge fire swept through a market in downtown Kabul last year, destroying hundreds of shops and forcing the city’s nearby money exchange to evacuate. millions of dollars Nwere lost following the fire incident.