Bupa Arabia for Cooperative Insurance announced on Sunday that its Sharia Advisor, Shariyah Review Bureau (SRB), along with its appointed Sharia Supervisory Committee (SSC), has reviewed the company’s activities in accordance with the Sharia Guidelines, as adopted and interpreted by the Sharia Governance (SG). Bupa confirms its compliance with these guidelines as of Thursday, October 17, 2024.
The key activities reviewed and certified include:
- Separation of accounts for both Shareholder and Policyholder pools.
- Investments made by Shareholder and Policyholder pools.
- Insurance policies.
The SSC, in coordination with SRB, will continue overseeing Bupa’s adherence to Sharia requirements, supervising ongoing activities, and conducting an annual Sharia audit in compliance with AAOIFI-GSIFI No. 2.
