Saudi Re announces the receipt of the Shariyah Review Report from its Shariyah advisor

Saudi Re announces the receipt of the Shariyah Review Report from its Shariyah advisor

Saudi Re announces that it has received the annual Shariyah Audit Report for the year 2020 from its Shariyah Advisor on 03/08/2021.

The report, reference SRE-683-03-01-03-21, contains the Shariyah approval from the Shariyah Advisor, the Shariyah Review Bureau (SRB), in line with the prior years’ reviews, on the following functions:

1. Separation of Accounts (Shareholder & Policyholder)

2. Compliance of Shareholder & Policyholders Investments with Shariyah

The SRB will lead the ongoing supervision and monitoring of the Company with regards to the above-mentioned functions and related processes from a Shariyah perspective. It will also engage the Shariyah Audit to investigate and evaluate the extent of its adherence with directed Shariyah policies and guidelines and to report any defective processes.

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