ACIG receives compliance certificate from Shariah committee

Logo of Allied Cooperative Insurance Group (ACIG)

Allied Cooperative Insurance Group’s (ACIG) Shariah committee completed the review of the company’s activities, the insurer said in a statement to Tadawul.

ACIG said it received a statement confirming the completion of the process, where the committee found that the company complied in its business and activities with the provisions and principles of Shariah.

The committee examined documents including the insurance products issued by the company and approved by the Shariah committee, the annual Shariah audit report prepared by the Shariah Committee Secretariat.

It also reviewed financial statements and auditors' report for 2022, along with Shariah decisions and fatwas for various funds and products where ACIG invested in 2022.