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BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THAT IT HAS RECEIVED THE APPROVAL OF ALL THE NECESSARY LEGALITY
Bupa Arabia for Cooperative Insurance Company announces that it has received the approval from its Shariyah Advisor, on Sunday 02/09/1438H, corresponding to 28/05/2017G, through the annual Shari'a Audit Report for 2016.
The report, reference BPA-150-04-01-05-17, contains the Shariyah approval from the Shariyah Advisor, the Shariyah Review Bureau, in line with the prior years reviews of 2015G and means all certificates remain valid, as announced on Wednesday 08/10/1437H, corresponding to 13/07/2016G, on the following functions:
1.Separation of Accounts (Shareholder & Policyholder)
(Certificate No: BPA-196-08-08-11-13)
2. Compliance of Shareholder & Policyholders Investments with Shariyah Guidelines (Certificate No: BPA-195-07-07-11-13)
3. Declaration & Product Provision, submitted for final approval to SAMA (Certificate No: BPA-199-09-09-11-13)
The Shariyah Review Bureau 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 Saudi 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.
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