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FINANCIAL NEWS
UAE-Oman vehicle registration reform in works
12 Jul 2011
(MENAFN) Officials from the UAE and Oman pledged Monday to solve the issue of insuring vehicles for cross-border travel, Arabian Business reported.
The UAE-Oman joint committee, formed to solve the registration problem, is considering implementing a Pan-Arab insurance card that could be used by vehicles registered in both UAE and Oman, Fatima Al Awadhi, head of the UAE delegation to the committee and deputy director of the Insurance Authority, said.
The committee is also working on procedures for settling claims between insurance companies in the two countries, Al Awadhi said.
The registration difficulties caused travelers to get stuck at Oman-UAE border crossings for hours if they lacked written approval to take the car across and forced drivers to pay high fees if stopped without the correct registration.
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