Fourth Article – Financial Regulations
IA-BOD-RES 26/2014 Effective from 28/12/2014The Financial Regulations for Takaful Insurance Companies include the following sections:
| Section 1: | Regulations Pertinent to the Basis of Investing the Rights of the Participants – Takaful |
| Section 2: | Regulations Pertinent to the Solvency Margin and Minimum Guarantee Fund – Takaful |
| Section 3: | Regulations Pertinent to the Basis of Calculating the Technical Provisions – Takaful |
| Section 4: | Regulations Pertinent to Determining the Takaful Operator’s Assets that Meet the Accrued Insurance Liabilities |
| Section 5: | Regulations Pertinent to the Records which the Takaful Operator shall be obligated to Organize and Maintain as well as the Data and Documents that shall be made Available to the Authority |
| Section 6: | Regulations Pertinent to the Principles of Organizing Accounting Books and Records of Each of the Takaful Operators, Agents and Brokers and Determining Data to be maintained in these Books and Records |
| Section 7: | Regulations Pertinent to Accounting policies to be adopted and the necessary forms needed to prepare and present reports and financial statements – Takaful |