Gulf Union Alahlia receives Shariah compliance certification

Logo of Gulf Union Alahlia Cooperative Insurance Co.

Gulf Union Alahlia Cooperative Insurance Co. received a confirmation certificate, on April 8, indicating that the Shariah Supervisory Committee (SSC), appointed by the Shariyah Review Bureau (SRB) as the insurer’s Shariah advisor, completed its review of the company’s activities.

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The company confirmed its compliance with the Sharia guidelines as of April 8, 2025, according to a Tadawul statement.

The key activities reviewed and certified include separating accounts for shareholders and policyholder pools, investments made by shareholders and policyholders pools, and insurance policies.

Investors are advised that the company’s purification amount per share is SAR 0.0072.

The SSC will work with SRB to continue the ongoing supervision and monitoring of Gulf Union Al Ahlia on the above-mentioned activities and related processes from a Shariah perspective. It will also administrate the annual Sharia audit in accordance with the AAOIFI-GSIFI No. 2.