For the purposes of implementing the provisions of Article (1) herein, the existing licensed composite insurance companies shall prepare all financial reports and financial statements according to the following:

1. Prepare consolidated financial statements and separate financial statements for each of the two insurance types, to include the following:
    
   1. The consolidated financial statements of the composite insurance company must include the following as a minimum:
       
      1. Consolidated Statement of Financial Position;
          
      2. Consolidated Income Statement;
          
      3. Consolidated Statement of Comprehensive Income;
          
      4. Consolidated Statement of Cash Flows; and
          
      5. Consolidated Statement of Changes in Equity.
          
   2. The separate financial statements of the composite insurance company must include the following as a minimum:
       
      1. Statement of Financial Position for the respective type of insurance; and
          
      2. Statement of Income for the respective type of insurance.
   
    
2. The separate financial statements and consolidated financial statements stated in these Instructions shall be prepared according to Schedule (1) of the financial instructions and the financial forms issued by the Authority.
    
3. It is required to comply with the provisions and other requirements relating to the annual and interim consolidated and separate financial statements, in accordance with the stipulations in the Financial Instructions for Insurance Companies and Financial Instructions for Takaful Insurance Companies.