Chubb Arabia is committed to comply with the required Shariah guidelines and standards which are to the benefit of Shareholders and Policyholders. Our range of products are 100% shariah compliant.
CHUBB Arabia Cooperative Insurance is advised by the Shariyah Review Bureau (SRB) to ensure that Shariah compliance is continuously reviewed and adhered to.
SRB is a Middle East based Sharia advisory firm that works with financial institutions from banks to insurance companies, asset managers, family offices and fintechs. The company is designed to operate as a single global partnership helping clients meet their Sharia assurance needs from setting up Sharia Boards to administering Sharia certification and providing external Sharia audit services. SRB also provides Sharia assurance guided by the most widely recognized international standard, ISAE 3000.
With scholarly presence in more than 21 countries from US, Europe, Africa, GCC and Asia its services can be delivered to financial institutions anywhere in the world. It serves clients at various levels, whether as a trusted Sharia advisor to executive management or as a internal Sharia auditor for internal control purposes or as an independent external Sharia auditor.
The Sharia governance responsibilities under the engagement with CHUBB Arabia Cooperative Insurance includes setting up a Sharia Board namely:
Sheikh Muhammad Ahmad Sultan
Sheikh Dr. Salah Fahad Al Shalhoob.
The above mentioned provide ongoing Sharia certification and Sharia audit (AAOIFI, GISIF No. 2).