Saudi Re receives 2021 Sharia review report from advisor

Logo of Saudi Re for Cooperative Reinsurance Co. (Saudi Re)

Saudi Re for Cooperative Reinsurance Co. (Saudi Re) received, on Aug 3, the Sharia Audit Report for 2021 from its Sharia Advisor, the company said in a statement to Tadawul.

The report includes the Sharia approval from the Sharia Advisor and the Shariyah Review Bureau (SRB), in line with the prior years' reviews.

The approval is related to the separation of accounts (shareholders and policyholders); as well as compliance of shareholder and policyholder investments with Sharia.

Investors are advised that the purification amount per share stands at SAR 0.233.

The SRB leads the ongoing supervision and monitoring of the company with regard to the above-mentioned functions and related processes from a Sharia perspective. It will also engage in the Sharia audit to investigate and evaluate the extent of the company’s adherence to directed Sharia policies and guidelines.

To view the SRB report, click attachment below: