Firm told to scrap new insurance fee on vehicles in Oman

Oman's Capital Market Authority has directed one of the insurance companies operating in the Sultanate to stop charging a new type of insurance fee.

  
28 January 2016
Muscat: Oman's Capital Market Authority (CMA) has directed one of the insurance companies operating in the Sultanate to stop charging a new type of insurance fee, according to the CMA's official Twitter account.

The CMA said the decision had been taken following numerous recent complaints about the new vehicles insurance fees, following which CMA had ordered the insurance company to stop levying the new fee and stick to the old system.

The regulatory body tweeted that it had also asked the insurance company to provide documents justifying its move to apply the new vehicle insurance fee. A number of citizens had expressed their dissatisfaction with the insurance company after it announced the new price list. The citizens had demanded through social media that the CMA intervene in the matter.

© Times of Oman 2016

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