MEDGULF receives compliance certification from Shariyah Review Bureau

11/01/2021 Argaam

The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (MEDGULF) received, on Jan. 10, the certification of Sharia compliance by Shariyah Review Bureau.

 

Shariyah Bureau reviewed the insurer’s activities in light of AAOIFI Sharia standards and confirmed its compliance to these standards, MEDGULF said in a bourse filing.

 

The key activities, which were reviewed and certified, are separation of accounts for both shareholders and policyholders, investments made by shareholder and policyholders, and insurance products.

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