ACIG receives a statement confirming its compliance with Sharia controls

Allied Cooperative Insurance Group (ACIG) announced on Sunday that it has received a statement confirming the completion of the process of reviewing the company’s activities by the Sharia Committee of the company. It has been found by the honourable members of the Sharia Committee that the company has complied in its business and activities with the provisions and principles of Islamic Sharia in accordance with the decisions issued by the committee.

The committee examined the following documents:

1. The insurance products were issued by the company during the year and approved by the Sharia Committee.

2. The annual Sharia audit report on the company’s business prepared by the Sharia Committee Secretariat.

3. The company’s financial statements and auditors’ report for the financial year ending on 31/12/2022

4. Sharia decisions and fatwas for the various funds and products in which the company invested during the year 2022.