UAE Central Bank cites CII Advanced Diploma in new legislation mandating insurance qualifications

 The United Arab Emirates (UAE) Central Bank has today (17 Feb) introduced new legislation which mandates professional qualifications for senior insurance representatives, and cites the Chartered Insurance Institute’s (CII) Advanced Diploma as exemplary of the internationally recognised qualifications that will be required by CEOs and other similarly ranked management representatives.   

Article 5 of the recently introduced ‘Insurance Brokers’ Regulation’ stipulates under the need for sector professionals to meet the necessary qualifications, knowledge and experience requirements and to have “a record of integrity, competence and financial soundness”.

The regulations also outline the criteria for continuing professional development (CPD), including fifteen hours for the Insurance Broker’s Representatives, Senior Management and Specialised Employees.



Gaenor Jones, CII Middle East Regional Director, welcomed the new legislation and commented: “This will have a major impact on the sector’s credibility, with corporates and organisations’ senior teams now mandated to attain accredited qualifications which prove their robust knowledge and capabilities. This will instil essential confidence in end users, including consumers, who can be certain that the advice they are being given comes from an informed and technically competent individual who has studied for and attained the appropriate qualifications, such as those provided by the CII. 

“It is vital for sector employees to stay abreast of evolving developments in the insurance sector whether this be new products or regulations, and continuing professional development, ensures that this happens. 

“We continue to work very closely with the central banks, not only in the UAE but across the Middle East and CSA region, to educate organisations about the importance of their employees pursuing and attaining internationally recognised qualifications. This latest legislation firmly underpins the CII’s mission to boost professional standards. We look forward to working with a wealth of UAE corporate organisations to help them comply with the new legislation. This development is indicative of a maturing market which will ultimately future-proof the UAE insurance sector – that’s excellent news for professionals working within it and more importantly for policyholders as this will enhance trust and confidence in the sector.

“This is a very encouraging development and we look forward to seeing these rules and regulations being cascaded to all insurance sector employees, showcasing how the UAE continues to lead the way to a progressive insurance sector” she concluded.