MCCI

Transport sector’s investment losses reviewed by MCCI

: Sunday, August 24 - 2014 @ 00:43

The Makkah Chamber of Commerce and Industry (MCCI), represented by The transportation committee, held a meeting lately to discuss high insurance rates and huge losses incurred by investors in the transport sector, Arab News reported. Qablan Al-Amari, an investor and a member of the committee, said that Makkah’s transport companies were urged to join hands in protecting their investments, demanding timely compensation and ensuring that insurance companies repair insured vehicles for free. The meeting was also held to address the slow handover of vehicles following accidents. Cars are often held for more than 30 days after being taken in for repairs because insurance companies are reluctant to pay up, often stalling and scrutinizing the terms stipulated in maintenance contracts in a bid to get out of fixing so many cars. Saudi Arabia’s biometrics market is projected to reach $1.5 billion by 2019. The growth of the market would be majorly controlled by fingerprint biometrics technology. Ease of installation & usage and lower cost have led for the rapid adoption of fingerprint biometrics technology systems in the country.

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Sunday, August 24- 2014 @ 0:43 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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