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.
