Article (12) Undertakings of the Committee
The committee undertakes the following:
- Setting the basic Shariah rules for the company’s operations.
- Review all the company's transactions, the Takaful insurance products, contracts, and documents which the company deals with in order to ensure compatibility with the Islamic Shariah provisions; and approve same before placing same into practical use.
- Review the Takaful insurance transactions and the investments conducted by the company, and show to what extent they are consistent with the Islamic Shariah provisions.
- Approve or reject any activity carried out by the company if such activity is inconsistent with the Islamic Shariah provisions.