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Al Mamoon Insurance Broker Company LTD Receives Sharia Certification from Shariyah Review Bureau

Almamoon Insurance Broker Company LTD, one of Saudi Arabia’s foremost insurance intermediaries, has been awarded Sharia certification by Shariyah Review Bureau (SRB). This certification underscores Almamoon’s commitment to ensure its offerings are aligned to Islamic principles, as it enhances its service range within the Saudi insurance market.

The insurance sector in Saudi Arabia is integral to Vision 2030’s financial services expansion, showcasing robust growth with significant advancements in integrating technology and compliance with Islamic finance. Almamoon’s innovative approach addresses the evolving needs of the market by providing tailored insurance solutions that ensure comprehensive coverage and risk management across various sectors.

Mamdouh Tantawi, CEO of Almamoon, emphasized the importance of Sharia certification, “Partnering with Shariyah Review Bureau ensures our services align with the Sharia standards our clients expect. This certification enhances our ability to broker and provide comprehensive and compliant insurance solutions to our commercial and SME clients specialized insurances like property, casualty, marine, and employee benefits.”

Shariyah Review Bureau, regulated by the Central Bank of Bahrain, has a long-standing reputation for providing Sharia advisory services across a broad financial spectrum. This collaboration with Almamoon highlights SRB’s continued commitment to enhancing Sharia compliance in the insurance sector, fostering trust and inclusivity.

Yasser S. Dahlawi, CEO of Shariyah Review Bureau, stated, “Our partnership with Almamoon is instrumental in bringing compliant brokerage insurance solutions to the forefront of the Saudi market. This collaboration aligns with our objective to support the insurance industry’s growth in compliance with Islamic principles, contributing significantly towards the goals of Saudi Vision 2030.”

With this Sharia certification, Almamoon is poised to further its mission of working with its partners to offer competitive high-quality, insurance products to its clients across Saudi Arabia.