BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THE RECEIPT OF THE SHARIYAH APPROVAL FROM ITS SHARIYAH ADVISOR
|Announcement Detail||Bupa Arabia for Cooperative Insurance Company announces that it has received the approval from its Shariyah Advisor, on 28/04/2019, through the annual Shariyah Audit Report for 2018. |
The report, reference BPA-276-06-0104-19, contains the Shariyah approval from the Shariyah Advisor, the Shariyah Review Bureau (SRB), in line with the prior years' reviews, on the following functions:
1. Separation of Accounts (Shareholder & Policyholder)
2. Compliance of Shareholder & Policyholders Investments with Shariyah
The SRB will lead the ongoing supervision and monitoring of the Company with regards to the above mentioned functions and related processes from a Shariyah perspective. It will also engage the Shariyah Audit to investigate and evaluate the extent of its adherence with directed Shariyah policies and guidelines and to report any defective processes.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.