Shariyah Review Bureau assigned as Shari’a advisor by Wataniya Insurance
Saudi firm Wataniya Insurance Company announced the commissioning of Shariyah Review Bureau (SRB) as their Sharia advisor. Shariyah Review Bureau will oversee and supervise the company’s Shari’a Compliance needs from Product structuring to Certification, and from Investments to periodical Shari’a reviews. According to Mr. Yasser Dahlawi, CEO at Shariyah Review Bureau, outsourcing Shari’a Supervisory functions is changing the landscape of the whole Islamic financial industry. It has been accelerated with greater demand from Institutional clients seeking cost-effective measures and a dynamic environment in having there queries and products quickly reviewed and verified, he added. Shariyah Review Bureau is currently serving 22% of the listed Cooperative Insurance companies in Saudi Arabia.