News & Events

The authority renewed the registration of Cashless Plus for banking technology and electronic payments in the register of electronic collection companies for premiums of all types of insurance policies.

The sources indicated, in exclusive statements, that the decision to renew the company was issued by Dr. Muhammad Omran, Chairman of the Authority’s Board of Directors, during the past week under No. 907 of 2022, and stipulated the renewal of the company’s registration for a period of 3 years, starting from May 23, 2022.
This decision came after reviewing Law No. 159 of 1981 issuing the law on joint stock companies, partnerships limited by shares, limited liability companies, one-person companies and its executive regulations, as well as Law No. 10 of 1981 issuing the law of supervision and control of insurance in Egypt and its executive regulations.
The decision was also based on Law No. 10 of 2009 regulating the supervision of markets and non-banking financial instruments, and the Authority’s Board of Directors’ Decision No. (27) of 2019 and its amendments regarding the conditions and controls for electronic collection companies’ registration of premiums for all types of insurance policies, and the Authority’s decision No. (637) ) for the year 2019 regarding the registration of the Cashless Plus Company for Banking Technology and Electronic Payments in the register of electronic collection companies for premiums of all types of insurance policies under No. (2) for a period of three years that ended on May 22nd.

Cashless Plus had submitted a request to the Authority regarding the renewal of its registration in the register of electronic collection companies for premiums of all types of insurance policies.