Wataniya Insurance receives compliance certification from Shariyah Review Bureau

18/10/2022 Argaam
Logo ofWataniya Insurance Co.

Logo of Wataniya Insurance Co.

Wataniya Insurance Co.  received, on Oct. 17, a certification of Sharia compliance from its Sharia advisor, Shariyah Review Bureau (SRB) and its appointed Sharia Committee (SC), the insurer said in a filing to Tadawul. 

 

SRB reviewed the activities of Wataniya in light of Sharia, as adopted and interpreted by Sharia guidelines.

 

The key certified activities are separation of accounts for both shareholders and policyholders, investments made by shareholders and policyholders, as well as insurance products.

 

SC will work with SRB to continue leading the ongoing supervision and monitoring of Wataniya with regards to the above-mentioned activities and related processes from a Sharia perspective. It will also administrate the annual Sharia audit in accordance with the AAOIFI-GSIFI No. 2.

 

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