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Notification: New Insurance Premiums Payment Process as per CBUAE Regulations

In compliance with the latest regulations issued by the Central Bank of the UAE (CBUAE) under Article 7.1, Circular No. 1/2024, Date 1/4/2024, effective 15th Feb 2025, all insurance premiums must be paid directly to the insurance company. This is to enhance transparency and efficiency within the insurance sector.

Read more on the regulations below:

What This Means to you as a customer:

1. Direct Payments: You will now be required to make all premium payments directly to respective Insurance company. This can be done through various convenient methods such as bank transfers, online payments or cheques.


2. Payment Details: Please ensure that you use the correct bank account details of respective Insurance companies to settle the corresponding premium Tax invoice.

Steps to Follow:


      (i) Review Payment Instructions: Carefully review the payment terms agreed at the time of placement with the Insurance company and pay on or before the Due Date.

      (ii) Update Payment Methods: If you have previously set up automatic payments to Gargash Insurance Services, please replace it with Insurance company’s bank account.

      (iii) Confirmation of Payment: After processing the payment, please send the payment copies along with   the allocations to our dedicated email box credit@gargashinsurance.com. You can also get in touch with     us at 04-3379800 

Thank you for your continuous trust and support.

Gargash Insurance Services LLC

 

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