The Internal Sharia Supervisory Committee (ISSC) concluded with a reasonable degree of confidence that Takaful Emarat's operations for the 2025 fiscal year were compliant with Islamic Sharia, despite reporting a few specific violations.
The ISSC noted that the company still lacks an internal Sharia control department and an internal Sharia audit department, relying instead on an external Sharia audit firm despite repeated recommendations for internal oversight.
The Committee conducted four meetings during 2025 to review financial statements, product structures, and the segregation of accounts between shareholders and policyholders.
Key actions included the review and approval of the 2025 Zakat calculations and the issuance of guidance to management to rectify deficiencies identified in external Sharia audit reports.
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