Azerbaijan, Baku Aug. 30 / Trend, N. Umid, S. Isayev
Mohammad Ebrahim Amin appointed as head of the Central Insurance Center of Iran (Bimeh Markazi) by Iranian Minister of Economic Affairs and Finance, Ali Tayyebnia, Fars news agency reported.
He is Chairman and Managing Director of Alborz Insurance Company.
Amin who has a master degree in bushiness management has served as director of Business Affairs Office in Management and Planning Organization of Iran.
Bimeh Markazi Iran (Central Insurance of Iran) was established in 1971 by the Act of Parliament for the purpose of regulating, expanding and guiding Insurance Industry in Iran.
Besides its regulatory and supervisory missions, Bimeh Markazi Iran by way of its Establishment Act has been entrusted to carry out local compulsory reinsurance and to effect Inward and Outward Reinsurance business in both national and international markets.
To regulate and supervise insurance industry, one of the constituent organs of Bimeh Markazi Iran is the High Council of Insurance with the prerogative to approve decrees and by - laws.
The Council is comprised of president of Bimeh Markazi Iran as Chairman, Vice Ministers of Economic Affairs and Finance, Commerce, Labor and Social Services, and Agriculture together with 5 authorities and experts from the Insurance Industry.