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HC-2.3.1

Past version: Effective from 01 Jul 2007 to 31 Dec 2010
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An insurance firm licensed to conduct insurance business according to takaful principles must establish a Shari'a Supervisory Board. The firm must also comply with AAOIFI Governance Standard for Islamic Financial Institutions No. 1 ('Shari'a Supervisory Board: Appointment, Composition and Report').

Amended: January 2007