Amendment Bill will regulate Insurance sector
Jan 5, 2011 7:00:00 PM - aussieindolanka.com
Speaker Chamal Rajapaksa presided yesterday when Parliament met at 1 pm. After presentation of papers and oral questions, Parliament took up the second reading of the Regulation of Insurance Industry (Amendment) Bill.
International Monetary Cooperation Senior Minister Sarath Amunugama: I move the Regulation of Insurance Industry (Amendment) Bill.
Insurance is also as important as the banking field. But we have concentrated less on regulating the insurance field. There is a close connection between the Insurance and the banking field. There are financial crisis in the insurance field as well as in the banking field.
We move this motion to amend the Act to regulate the insurance sector.