Bupa Arabia for Cooperative Insurance today announces that it has extended its engagement contract with Shariyah Review Bureau, a leading provider of Sharia advisory and Sharia audit solutions. SRB has been serving Bupa for a decade providing Sharia advisory services, including insurance policy review, investment evaluation and Sharia audit, to its healthcare business. Bupa Arabia remains at the forefront as one of the top Cooperative insurance operators in the Kingdom of Saudi as it provides distinguished and unprecedented services under the “Tebtom” and “Rahatkom” programs.
Tal Nazer – CEO, Bupa Arabia commented: “Being in the Healthcare business, we take all aspects into account to make a difference in people’s lives. Serving the larger community with our people centric programs, we have also been assuring our investors and shareholders, by continuing to engage with reputed firm like SRB who strives for excellence when it comes to Sharia advisory & audit.” Tal Nazer added, “SRB has helped us administer and strengthen our Sharia compliance base, performance and scale in terms of ensuring compliance with Sharia guidelines.” “We hope that this next step we are taking together into the next decade will help us uncover insights about Sharia assurance and positively impact the cooperative insurance experience.”
Shariyah Review Bureau (SRB) is a leading Sharia Advisor with scholarly presence in more than 16 countries from US, Europe, Africa, GCC and Asia. This year’s engagement with Bupa Arabia marks a 10-year anniversary between both the entities.
Yasser S. Dahlawi, Founder and CEO of SRB said, “We are proud to be engaged with one of the leading names in Co-operative insurance for a decade. Delivering assurance through our Sharia advisory, certification and Sharia audit services, we have been strengthening the relationship year on year by providing the confidence to Bupa’s investors and stakeholders.”
The scope of the engagement entails setting up the Sharia Board, reviewing policies, contractual agreements, claims, screening financial and investment transactions of the company in light of Sharia principles and rulings.