Fahad Al-Hesni

Saudi Re receives Sharia certification from Shariyah Review Bureau

Saudi Reinsurance Company (Saudi Re) announced receiving the Sharia certificate for its offerings from Shariyah Review Bureau (SRB). With a solid financial base of total assets SAR 2.9 billion and an A3 rating by Moody's, Saudi Re is eyeing opportunities to strengthen its presence in its target markets in the Kingdom, the Middle East, Asia and Africa. CEO Fahad Al-Hesni said that Saudi Re has identified Environmental, Social and Governance (ESG) objectives from investors perspective, among which Sharia compliance was emphasized as a key factor in reflecting the responsible conduct. SRB apply various Sharia supervisory actions like reviews, investment screening, interactive consultations, Sharia Board administration and periodic Sharia audits.

Syndicate content