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Article (1)

Effective from 17/4/2019

To approve the employment of a Shari’a Controller at Takaful insurance companies, following conditions must be met:

  1. To be a natural person.
     
  2. The Shari’a Controller shall be appointed in the company by its Board of Directors, and based on the recommendation of the Shari'a Supervisory Committee in the Company.
     
  3. To practice the Shari’a Controller duties on full-time basis, and it is not permissible to combine between the job of a Shari’a Controller and any other job in the Company.
     
  4. To be a Muslim with full legal capacity, and has a sound reputation and good conduct and to be knowledgeable in the Arabic language.
     
  5. Has never been dismissed from service for disciplinary reasons.
     
  6. Submit a certificate confirming that he has not been sentenced in a felony or misdemeanor that violates honor or honesty and public morals, and to submit a declaration that he has not been declared bankrupt unless he is rehabilitated.
     
  7. The following qualifications and experience are required:
     
  1. Must be a holder of a university qualification in Shari’a and a degree in either law, insurance, business or economics.
     
  2. Must have passed training courses in Shari’a or any legal, insurance, business or financial training courses.
     
  3. To be knowledgeable in the jurisprudence of Islamic financial transactions.
     
  4. To have practical experience for a period of not less than three years in the field of insurance or have worked in the field of Shari’a Control and other related activities. The experience shall be for one year for UAE Nationals.