Egypt's Regional Center for Finance signs Nairobi Declaration for Sustainable Insurance

CAIRO – 4 May 2021: CEO of the Regional Center for Sustainable Finance, affiliated to the Financial Regulatory Authority (FRA), Sina Habbous, signed the Nairobi Declaration on "Sustainable Insurance" as the founding party of the agreement.

According to a statement issued by the FRA on Tuesday, this came during its virtual participation in the activities of the Fourth African Conference, which was held under the auspices of the PSI (Principals of Sustainable Insurance) initiative of the United Nations Environment Program (UNEP) at the end of last month.

The statement indicated that according to this declaration, the leaders of the insurance industry in Africa are committed to supporting the achievement of the United Nations sustainable development goals.

The signing of the declaration comes within the framework of supporting the Authority’s efforts towards achieving the insurance sector’s sustainable development goals, as the center works to develop the capabilities of the non-banking financial sector, build capacities and raise the awareness of its employees.

It also aims to develop markets and support efforts to stabilize them, transfer expertise and knowledge at the regional level, raise the efficiency of the local non-banking market with the specialized training courses and advisory services to be provided to investors, provide research and design various scenarios, and provide an online platform for Africa and the Middle East news and other services. .

Habbous said that the declaration aims to accelerate the pace of reaching solutions to major sustainability challenges, especially in the wake of the COVID-19 pandemic, which has slowed progress in achieving the sustainable development goals.