TEHRAN – Iran’s President Mahmud Ahmadinejad here Sunday gave 10 new missions to the insurance sector for boosting the industry.

He ordered for the establishment of a working group, appointing the Economic Affairs and Finance Minister Davud Danesh-Ja’fari as its head.
Ahmadinaejad specified the group’s orientations in 10 sections like creating competition, offering proper and prompt services to people, reforming the supervisory system of insurance, boosting the insurance culture, and expanding the life insurance.
The president made his remarks in the Assembly for Insurance and National Insurance.
Also attending the assembly, Danesh-Ja’fari voiced his support for the plan, saying that some strategies have to be adopted for the predicted evolution in the part.
He said that investment is the country’s postulate factor, adding banks, insurance companies, and the stock markets play a great role in providing proper financial resources.
He announced that the government needs to change its holding to supervisory role due to the Article 44 of the Constitution.
“Supervision on the insurance industry will become valuable in an economy which is moving towards privatization,” he said.
Delivering a speech in the assembly, first vice president said that the insurance companies’ capital is about $700 million, of which $40 million belongs to Bimeh Markazi Iran (Central Insurance of Iran).
He asked the insurance industry is required to entail existing risks.
“Since insurance is a part of country’s financial sector, it could revolutionize domestic economy”, he opined