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Al-Saqr Insurance Gains Sharia Certification
Al-Saqr Cooperative Insurance Company announced that it has received an official report confirming that its operational and investment activities are compliant with Shariah principles, following a comprehensive review by the Shariah Audit Department and the Shariah Supervision Committee. The review covered the segregation of accounts between shareholders and policyholders to ensure the independence of financial obligations, as well as a review of the company's investments to ensure that liquidity and assets are directed toward Shariah-compliant instruments. Additionally, all insurance products were evaluated to ensure they meet Shariah guidelines and customer requirements. The Shariah Audit Committee will regularly monitor operations to ensure adherence to Shariah policies, with future reviews to be conducted in accordance with Shariah Governance Standard No. 2 issued by IYOVI.
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