TAILIEUCHUNG - Decree Of The President of the Islamic Republic of Afghanistan! About Amendment, Addition and Deletion of some provisions from the Insurance Law.

The IDB’s conclusion is that funds really are not important generators of employment or income. Most of the jobs created were temporary. Most of the local employment or virtually all of the local employment was for unskilled labor at wages equal to or below the minimum wage in the region, not an above-poverty wage. The total expenditure of funds was not sufficient to move people out of poverty. Some part of that total ex- penditure went to material and to skilled labor that came in with the contractors from outside the poor communities | Decree Of The President of the Islamic Republic of Afghanistan About Amendment Addition and Deletion of some provisions from the Insurance Law. No 118 Date 27 9 1384 Article 1 Amendment of Article six deletion of part 2 of paragraph 1 of the article eleven amendment in article fifteenth and addition of paragraph 2 in the article thirty fifth of the Insurance Law published in the Official Gazette serial No 694 in the year 1368 is approved as following. 1- Text of the Article 6 shall be amended as follows Article 6 1 The Insurance Companies shall be established at the request of the Ministry of Finance and approval of the government. 2 Private Insurance Companies may be established in Afghanistan according to the investment Law License of the activities of the Insurance Companies will be issued by the Ministry of Finance. 3 To implement the objectives mentioned in this Law and support the property of the insured s a-five-member insurance board shall be established. 4 The Ministry of Finance shall develop special procedures to regulate the affairs of the insurance board. 2- Article 15 shall be amended as following Article 15 Insurance premium shall be subject to the payment of state stamp tax Sokook which is shared and paid equally by the Insurance Company and the insured. 3- The original text of Article 35 shall be amended as follows 1. the situations not stipulated under this law shall be settled in accordance with the commercial code. 2. the ministry of finance may process and enact regulations and rules for better implementation of this law. 3. Article 11 Para. 2 shall be deleted. Article 2 This decree shall be effective from the date signed by the president and shall be published in the Official Gazette. Hamid Karzai President of the Islamic Republic of Afghanistan OG 694 amended OG 874 INSURANCE LAW CHAPTER ONE GENERAL PROVISIONS Article 1 This law has been enacted for regulation of insurance affairs. Article 2 In this law the following terms shall have .