Central Bank of Somalia Financial Reporting Regulations 2025

FINANCIAL REPORTING REGULATIONS 2025 CBS/TAK/REG/03

Financial Reporting Regulations, 2025 Page 2 of 51 ARRANGEMENTS OF REGULATIONS PRELIMINARY 3

1. Citation ...............................................................................................................................................3
2. Objectives ..........................................................................................................................................3
3. Commencement Date ......................................................................................................................3
4. Interpretation......................................................................................................................................3
5. Applicability ........................................................................................................................................4
6. General Principles ............................................................................................................................4
7. Specific Requirements on Qard – Hasan......................................................................................5
8. Minimum Disclosure Requirements ...............................................................................................5
9. Audited Financial Statements .........................................................................................................6
10. Notes to The Financial Statements ...............................................................................................7
11. Provisions Applicable to Regulatory Returns ...............................................................................8

Financial Reporting Regulations, 2025 Page 3 of 51 PRELIMINARY IN EXERCISE of the powers conferred by Article 156, of the Takaful Law, the Central Bank of Somalia makes the following Regulations:-

1. Citation These Regulations may be cited as the Financial Reporting Regulations, 2024.
2. Objectives The regulations set forth in this document are intended to achieve the following main objectives: a) the specific requirements on the application of the IFRS/ AAOIFI; b) information to be disclosed in the financial statements; and c) requirements on submission and publication of the financial statements.
3. Commencement Date i) These Regulations shall come into force immediately upon approval by the Central Bank board of directors and signature by the chairman. ii) Any person who at the commencement of these Regulations is providing takaful services, shall within six (6) months from the date of commencement apply to the Bank for a license. iii) Sub-regulation (2) shall not apply to a new applicant and the new applicant shall apply for a license to the Bank before commencing to provide takaful services. iv) Within thirty days after commencement of these Regulations, any existing takaful operator shall notify the Bank of its existence.
4. Interpretation In these Regulations, unless the context otherwise requires— “IFRS” means International Financial Reporting Standards. “AAOIFI” means Accounting and Auditing Organisation for Islamic Financial Institutions. “Participant’s Risk Fund (PRF)” means a fund to which a portion of the participants’ contributions are credited for the purpose of donation. “Participant’s Investment Fund” means a fund to which a portion of the participants’ contributions is credited for purposes of investment or savings.

Financial Reporting Regulations, 2025 Page 4 of 51 “Qard-Hasan” means a benevolent loan extended by a takaful operator to a takaful fund when there is a deficit in the participants’ risk fund. “Regulatory returns” means the statements which are required to be prepared and filed with the Bank under Article 23 of the Law. 5. Applicability These regulations are applicable to all takaful undertakings in Somalia. 6. General Principles

1. A takaful operator shall prepare its financial statements in accordance with the IFRS/ AAOIFI to the extent that the standards are consistent with Shariah principles and shall include a statement in the financial statements indicating its adherence to these requirements.
2. A takaful operator shall also prepare and submit regulatory returns in the prescribed format alongside the audited financial statements prepared under the Company’s Act.
3. A takaful operator shall comply with the following accounting principles adopted in the IFRS to ensure consistency with the broader view of Shariah principles: a) accrual basis, where the effect of a transaction and other events is recognized when it occurs (and not when cash or its equivalent is received or paid) and is recorded in the accounting records and reported in the financial statements of the periods to which it relates; b) “substance over form” where the “form” and “substance” of the transaction must be consistent and shall not contradict one another. In the event od inconsistency between “substance” and “form”, the Shariah places greater importance on “substance” rather than “form”; c) probability, where the degree of uncertainty that the future economic benefits associated with the transaction will flow to or from the Islamic financial institution is considered in reference to the recognition criteria; d) time value of money, where a transaction involves time deferment, the asset or liability is carried at the present discounted value of the future net cash inflows or outflows that the transaction is expected to generate in the normal course of business.
4. The board shall ensure that a sound financial reporting structure is in place to ensure the integrity and credibility of the financial statements.

Financial Reporting Regulations, 2025 Page 5 of 51 5) For financial instruments that are measured at fair value, a takaful operator shall ensure that sound risk management and control processes around their measurement are in place as per IFRS 13 on Fair Value Measurement. 7. Specific Requirements on Qard – Hasan

1. Qard - Hasan payable by the takaful operator shall be part of the financial obligations of the operator to the takaful risk fund.
2. Qard - Hasan payable by the takaful operator shall be measured as part of the fulfilment cash flows in the calculation of takaful contract liabilities in accordance with the requirements under IFRS 4.
3. The takaful operator shall disclose in the annual financial statements in relation to any issued Qard- Hasan, the following: a) The circumstances which necessitated the takaful operator to provide benevolent loan to the Takaful Risk Fund from its shareholders’ fund; b) Evidence of an unsuccessful attempt to call upon other available options leading to Qard - Hasan as Last Resort to solve the illiquidity of the Participants Risk Fund.
4. A takaful operator shall disclose accounting measurement to be applied in respect to the application of time value for money to determine the present and future value of Qard - Hasan including any fair value adjustment.

8. Minimum Disclosure Requirements

1. A takaful operator shall make disclosures in the financial statements in accordance with the requirements of the IFRS.
2. A takaful operator shall comply with the following key principles on disclosure of information: a) information shall be timely and up to date to ensure the relevance of the information being disclosed; b) the scope and content of information disclosed, and the level of detail shall be sufficient to provide comprehensive, meaningful and relevant information to the users; c) adequate disclosures shall be provided on areas of uncertainty; and d) disclosures shall allow comparisons over time and between takaful operators.
3. A takaful operator shall present the financial statements according to a columnar presentation format.

Financial Reporting Regulations, 2025 Page 6 of 51 9. Audited Financial Statements

1. These requirements shall apply to takaful operators with appropriate modifications based on the advice of the Shariah board prior to approval by the Bank;
2. The audited financial statements of a takaful operator shall comprise: a) Statement of the Financial Position; b) Statement of Comprehensive Income; c) Statement of the Revenue Account; d) Statement of changes in Shareholders’ Equity; e) Statement of Participants Takaful Fund; f) Statement of Cash Flows; and g) Notes to the financial statements.
3. A takaful operator shall submit to the Bank the audited financial statements within three months after the end of the year to which they relate in electronic form.
4. Further to paragraph (3) above, a takaful operator shall in addition submit one copy, which shall be delivered in printed form to the Bank.
5. An operator shall also submit to the Bank its unaudited financial statements on a quarterly basis within a month after the end of each quarter.
6. A takaful operator shall also include the following reports in the financial statements: a) Company profile. b) Chairman’s and CEO’s report. c) Corporate governance report. d) The takaful operating model. e) Report on Shariah compliance. f) Changes in the Shariah board and the Shariah department. g) Findings of the Shariah audit. h) Independent auditor’s report to the shareholders. i) Report of the signing actuary.
7. Where a takaful operator fails to submit its financial statements by the due date and/or submits incomplete financial statements, Delay in submissions of financial

Financial Reporting Regulations, 2025 Page 7 of 51 statements: US$ 300 initially, and US$ 50 daily, up to maximum of three thousand US$ 3000, after which bank will impose administrative penalties. 8) If any statement or other document to be required to be submitted under any provision of this part is false in any material particular to the knowledge of any person who signs it, that person shall be guilty of an offense and liable to a fine of three thousand dollars (USD 3,000) as well as other appropriate supervisory actions. 9) Notwithstanding the provisions under paragraph 8.8 above, if the Bank notifies the takaful operator that a document submitted appears to be inaccurate or incomplete, the takaful operator shall consider the matter and within one month of the notification, it must correct any inaccuracies, make good any omissions and submit the amended parts of the regulatory returns. 10) A takaful operator may request an extension if it is unable to submit its financial statements to the Bank by the due date. 11)The request shall be made within ten calendar days prior to the submission due date and include the extension length requested and provide a reason for the extension request. 12) The Bank may consider such request where deemed appropriate and grant such extension for a period not exceeding 30 days. 10.Notes to The Financial Statements The explanatory notes to be disclosed in the annual financial statements shall include the following information: a) A description on the role of the takaful operator; b) Significant accounting policies; c) Any forms of remuneration paid to the CEO, Directors’, Shariah Committee members ( e.g. salary, fees, bonus, benefits in kind, retirement benefits), and disclose separately for the CEO and each director, distinguishing between the executive and non-executive director, and Shariah Committee members; d) The amount of surplus distribution, if any, to both takaful participants and shareholders’ fund; e) Any other forms of financial support received by the takaful risk fund from the shareholders’ fund; f) Any gift provided as additional takaful benefits payable from the shareholders’ fund to the takaful participants as supplementary to the main takaful benefits;

Financial Reporting Regulations, 2025 Page 8 of 51 g) The required disclosures on Qard- Hasan; h) Takaful contract liabilities; i) Re-takaful assets; j) Takaful receivables; k) Other receivables; l) Takaful payables; m) Technical provisions; n) Investment activity and performance; o) Capital adequacy and solvency margin; p) Expense liabilities; q) Prepayments r) surplus payables s) retakaful share of claims t) accruals u) Gross and net earned contribution; v) Gross and net benefits and claims; w) Management expenses; x) Related party transactions; y) Amount and nature of impermissible earnings and means and Shariah compliant means to dispose them off; and z) Amount of zakat payable and method of calculating zakat as approved by the Takaful operator’s Shariah board. aa)The takaful undertakings reasonably foreseeable and material risk exposures and their management. bb)An analysis on the company’s performance. 11.Provisions Applicable to Regulatory Returns

1. In accordance with regulatory standards, every takaful operator shall be required to submit annual reports and regulatory returns to the Bank about the takaful undertaking performance in total and segmented level.
2. Takaful operators shall submit different financial statements and regulatory returns to the Bank in the prescribed format outlined in the Sixth Schedule.

Financial Reporting Regulations, 2025 Page 9 of 51 3) A takaful operator shall submit to the Bank the regulatory returns within three months after the end of the year to which they relate. 4) A Takaful operator shall report separately by class of business and type of Fund: a) Family Takaful: participants’ risk fund and participants’ investment fund; and b) General Takaful: participants’ risk fund. 5) The method of allocation and proportion of contribution allocated to takaful funds shall be disclosed explicitly in takaful contracts. 6) An actuary’s certificate shall form part of the financial returns. The certificate shall be in the format prescribed in Form No. 26-1 and signed by the actuary. It must state that, in his opinion, the actuary has satisfied himself as to the accuracy of the valuations made for the purposes of the investigations and as to their adequacy to meet the obligations of the takaful operator and that the financial statements fairly represent the results of the valuation.

SIXTH SCHEDULE FORM No. CBS 23-1A STATEMENT OF FINANCIAL POSITION - GENERAL TAKAFUL Amount in USD Name of Takaful Operator Financial Year Ended Note Shareholder Funds General Takaful Funds Total Current Year Prior Year Current Year Prior Year Current Year Prior Year Assets - - - - - - Cash and cash equivalents - - - - - - Deposits and Placements with Banks and other Financial Institutions - - - - - - Government Securities - - - - - - Quoted Securities - - - - - - Unquoted Securities - - - - - - Corporate Bonds (Sukuks) - - - - - - Investment Property - - - - - - Investment in Related Parties - - - - - - Takaful contract assets - - - - - - Receivables arising from retakaful arrangements - - - - - - Trade and other receivables - - - - - - Takaful receivables - - - - - - Retakaful operator’s share of takaful liabilities - - - - - -

Financial Reporting Regulations, 2025 Page 11 of 51 Deferred tax assets

Intangible assets

Property, plant and equipment

Deferred acquisition cost

Ijarah Prepaid expenses and other expenses

Total Assets

Equity, Liabilities and Participants' Funds

Equity

Share capital

Statutory reserve

General reserve

Retained earnings Intangible assets Investments in properties Dues from takaful operations Other receivables and prepayments

Total Owner’s Equity

Liabilities and Participants' Funds

Takaful contract liabilities

Current tax liabilities

Other liabilities

Borrowings

Investment contract liabilities

Retakaful contract liabilities

Provision for wakalah fees

Deferred income tax liabilities

Participants’ funds

Financial Reporting Regulations, 2025 Page 12 of 51 Takaful outstanding claims Accrued expenses and other liabilities Retakaful payable balances Unearned contributions Total technical provisions Unearned retakaful commission income Surplus distribution payable Total Liabilities and Participants’ Funds - - - - - - Total Equity, Liabilities, and Participants’ Fund - - - - - -

Financial Reporting Regulations, 2025 Page 13 of 51 Chief Executive Officer Auditor Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 14 of 51 FORM No. CBS 23-1B STATEMENT OF FINANCIAL POSITION – FAMILY TAKAFUL Amount in USD Name of Takaful Operator Financial Year Ended Note Shareholder Funds (USD) Famaily Takaful Funds (USD) Total Current Year Prior Year Current Year Prior Year Current Year Prior Year Assets - - - - - - Cash and cash equivalents - - - - - - Deposits and Placements with Banks and other Financial Institutions - - - - - - Government Securities - - - - - - Quoted Securities - - - - - - Unquoted Securities - - - - - - Corporate Bonds (Sukuks) - - - - - - Investment property - - - - - - Investment in Related Parties - - - - - - Takaful contract assets - - - - - - Receivables arising from retakaful arrangements - - - - - - Current tax assets - - - - - - other receivables, accrued income and prepayents - - - - - - Takaful receivables - - - - - - Retakaful operator’s share of takaful liabilities - - - - - -

Financial Reporting Regulations, 2025 Page 15 of 51 Deferred tax assets

Intangible assets

Property, plant and equipment

Deferred acquisition cost

Ijarah

Total Assets

Equity, Liabilities and Participants’ Funds

Equity

Share capital

Statutory reserve

General reserve

Retained earnings/losses Investments fair value reserves

Total Equity

Liabilities and Participants' Funds

Takaful contract liabilities

Family takaful technical reserves

Current tax liabilities

Other liabilities

Borrowings

Investment contract liabilities

Retakaful contract liabilities

Provision for wakalah fees

Deferred income tax liabilities

Participants’ funds

Total Liabilities and Participants’ Funds

Total Equity, Liabilities, and Participants’ Fund

Financial Reporting Regulations, 2025 Page 16 of 51 Chief Executive Officer Auditor Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 17 of 51 FORM No. CBS 23-2A STATEMENT OF COMPREHENSIVE INCOME- GENERAL TAKAFUL Amount in USD Name of Takaful Operator Financial Year Ended Note Shareholder Funds General Takaful Funds Total Current Year Prior Year Current Year Prior Year Current Year Prior Year Gross contributions - - - - - Retakaful provider's share of gross contributions - - - - - - Retained contributions - - - - - - Unearned contributions adjustment - gross - - - - - - Unearned contributions adjustment – retakaful - - - - - - Net earned contributions Gross claims paid - - - - - - Retakaful provider's share of claims paid - - - - - - Outstanding claims adjustments- gross - - - - - - Outstanding claims adjustments- retakaful - - - - - - Net incurred claims - - - - - - Operating revenue - - - - - - Wakalah fee income Mudarib share - - - - - -

Financial Reporting Regulations, 2025 Page 18 of 51 Income from an associate Realized gains/(losses) on investments - - - - - - Fair value gains/(losses) on investments Other income Gross profit

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Management /administrative expenses Corporate expenses Amortization of acquisition costs

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Other operating expenses - - - - - - Profit / (Loss) before tax - - - - - - Tax expense - - - - - - Surplus/(Deficit) for the Year - - - - - - Chief Executive Officer Auditor Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 19 of 51 Consolidated Cash Flow for Takaful Operator for the Period Ended Day, Month 20XX Notes 20XX 20XX USD USD Income (Loss) for the year Adjustments for: Depreciations Unrealized Gains/loss on investment properties Unrealized gains/loss on investments Unrealized gain/loss on foreign exchange fluctuations Cash flow from operating activities Decrease/(increase) in takaful receivables (increase)/decrease in other receivables and prepayments (decrease)/increase in takaful payables (decrease)/increase in takaful contract liabilities End of service indemnity paid Net Cash from Operating Activities Cash flow from investing Activities Purchase of property and equipment

Financial Reporting Regulations, 2025 Page 20 of 51 Purchase of intangible assets Purchase of investments at fair value through equity Proceed from sale of property and equipment Investment income received Bank deposits with maturities of more than 3 months Proceeds from sale of intangible assets Net Cash from Investing Activities Cash Flow from Financing Activities Ijara payables Profit distributions to property and liability takaful fund participants Zakat paid Net cash from financing activities (Decrease)/Increase in Cash and Cash Equivalents Cash and Cash Equivalent at the End of the year

Financial Reporting Regulations, 2025 Page 21 of 51

Financial Reporting Regulations, 2025 Page 22 of 51 FORM No. CBS 23-2B STATEMENT OF COMPREHENSIVE INCOME - FAMILY TAKAFUL Amount in USD Name of Takaful Operator Financial Year Ended Note Shareholder Funds Family Takaful Funds Total Current Year Prior Year Current Year Prior Year Current Year Prior Year Gross contributions - - - - - Retakaful provider's share of gross contributions - - - - - - Retained contributions - - - - - - Unearned contributions adjustment - gross - - - - - - Unearned contributions adjustment - retakaful - - - - - - Net earned contributions - - - - - - Retakaful provider's share of claims paid - - - - - - Outstanding claims adjustments- gross - - - - - - Outstanding claims adjustments- retakaful - - - - - - Net incurred claims - - - - - - Operating revenue - - - - - - Wakalah fee income - - - - - - Surplus sharing from family takaful fund - - - - - -

Financial Reporting Regulations, 2025 Page 23 of 51 Realised gains/(losses) - - - - - - Fair value gains/(losses) - - - - - - Management expenses - - - - - - Other operating expenses - - - - - - Profit / (Loss) before tax - - - - - - Tax expense - - - - - - Surplus/(Deficit) for the Year - - - - - - Chief Executive Officer Auditor Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …................................................................... .

Financial Reporting Regulations, 2025 Page 24 of 51 FORM No. CBS 23-3 STATEMENT OF THE REVENUE ACCOUNT Amount in USD Name of Takaful Operator Financial Year Ended Item Agriculture Engineering Fire & Perils Liability Marine & Aviation Motor Workmens' Compensation Medical Miscellaneous Total Revenue Gross Written Contribution - - - - - - - - - - Unearned contribution at the beginning of the year - - - - - - - - - - Unearned contribution at the end of the year - - - - - - - - - - Gross earned contribution - - - - - - - - - - Retakaful provider's share of gross contributions - - - - - - - - - - Net earned contribution - - - - - - - - - - Gross claims paid - - - - - - - - - - Outstanding claims reserves at the beginning of the year - - - - - - - - - - Outstanding claims reserves at the end of the year - - - - - - - - - - Gross claims incurred - - - - - - - - - - Recoveries from retakaful operators - - - - - - - - - - Net incurred claims - - - - - - - - - - Commissions receivable - - - - - - - - - - Commissions payable - - - - - - - - - - Net Commission - - - - - - - - - - Management fee (Wakalah/ Mudarabah fee) - - - - - - - - - - Other expenses - - - - - - - - - -

Financial Reporting Regulations, 2025 Page 25 of 51 Total expenses and commissions - - - - - - - - - - Underwriting surplus/ (Deficit) - - - - - - - - - - Chief Executive Officer Auditor Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 26 of 51 FORM No. CBS 24-4 SUMMARY AND VALUATION OF CONTRACTS Amount in USD Name of Takaful Operator Summary and Valuation of the Contracts as at 31st December 20…..... Gross Technical Reserves Net Technical Reserves Business Class Outstanding Claims Reported Incurred But Not Reported (IBNR) Claims Reserves Unearned Contribution Reserve (UCR) Total Gross Technical Reserves Outstanding Claims Reported Incurred But Not Reported (IBNR) Claims Reserves Unearned Contribution Reserve (UCR) Total Net Technical Reserves Agriculture Engineering Fire & Perils Liability Marine & Aviation Motor Workmen’s compensation Medical Miscellaneous TOTAL BUSINESS

Financial Reporting Regulations, 2025 Page 27 of 51 Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 28 of 51 FORM No. CBS 24-5 QUARTERLY CONTRIBUTION LEVY RETURN Amount in USD Name of Takaful Operator Quarter Ended Serial No. Class of Business Amount of Gross Contribution written during the quarter Family Takaful 01 Group family & Superannuation 02 Ordinary family Sub-total General Takaful 03 Agriculture 04 Engineering 05 Fire & Perils 06 Liability takaful 07 Marine & Aviation 08 Motor takaful 09 Workmen's compensation 10 Medical 11 Miscellaneous Sub-total Total 1% of Total

Financial Reporting Regulations, 2025 Page 29 of 51 Total takaful levy payable Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 30 of 51 FORM No. CBS 24-6 QUARTERLY GENERAL TAKAFUL CONTRIBUTIONS RETURNS Amount in USD Name of Takaful Operator Financial Year Ended Takaful Class Gross Written Contributions Gross Written Contributions Retakaful Contribution Ceded Net Written Contributions Number of Policies Written Number of Direct Contributors Business Agents Brokers Bancatakaful Other Channels Agricultural Takaful Engineering Takaful Liability Takaful Fire & Perils Takaful Marine & Aviation Takaful Medical Takaful Motor Takaful Workmen's Compensation Miscellaneous Takaful Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: ….........................................................

Financial Reporting Regulations, 2025 Page 31 of 51 Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 32 of 51 FORM No. CBS 24-7 QUARTERLY FAMILY TAKAFUL CONTRIBUTIONS RETURNS Amount in USD Name of Takaful Operator Financial Year Ended Takaful Class Gross Written Contributions Gross Written Contribution s Retakaful Contributio n Ceded Net Written Contributio n Number of Contract s Written Number of Contributor s Direct Busines s Agent s Broker s Bancatakafu l Other Channel s Ordinary family takaful Group family & Superannuation Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 33 of 51 FORM NO. CBS 53-1 REPORT OF CONTRIBUTIONS FOR GENERAL TAKAFUL BUSINESS BY INTERMEDIARIES Amount in USD Name of Intermediary Quarter Ended Class of business Gross Contributions Commissio n (received and expected) Number of policies issued Number of claims reported Claims amount reported Agriculture Engineering Fire & Perils Liability Marine & Aviation Motor Workmen's Compensation Medical Miscellaneous Total

Financial Reporting Regulations, 2025 Page 34 of 51 Chief Executive Officer Name: …................................................................. Signature: …......................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 35 of 51 FORM NO. CBS 53-2 REPORT OF CONTRIBUTIONS FOR FAMILY TAKAFUL BUSINESS BY INTERMEDIARIES Amount in USD Name of Intermediary Quarter Ended Class of business Gross Contributions Commission (received and expected) Number of policies issued Number of claims reported Claims amount reported Ordinary family Group & Superannuation Total Chief Executive Officer Name: …................................................................. Signature: …......................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 36 of 51 FORM NO. CBS 53-3 ANNUAL GROSS CONTRIBUTIONS FOR INTERMEDIARIES Amount in USD Name of Intermediary Financial Year Ended Month Written Contributions Agriculture Engineering Fire & Perils Liability Marine & Aviation Motor Workmens' Compensation Medical Miscellaneous Family Total January - - - - - - - - - - - February - - - - - - - - - - - March - - - - - - - - - - - April - - - - - - - - - - - May - - - - - - - - - - - June - - - - - - - - - - - July - - - - - - - - - - - August - - - - - - - - - - - September - - - - - - - - - - - October - - - - - - - - - - - November - - - - - - - - - - - December - - - - - - - - - - - Total Contributions - - - - - - - - - - -

Financial Reporting Regulations, 2025 Page 37 of 51 Chief Executive Officer Name: …................................................................. Signature: …......................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 38 of 51 FORM NO. CBS 113-1 QUARTERLY CLAIM NUMBERS REPORT – GENERAL TAKAFUL BUSINESS Name of Takaful Operator Quarter Ended Class of Business Number of Claims Total Number of Claims Outstanding for the quarter Number of Claims Number of Claims Outstanding at the end of the quarter at the beginning of the quarter intimated during the quarter revived during the quarter settled during the quarter declined during the quarter Agriculture Engineering Liability Fire & Perils Liability Marine & Aviation Medical Motor Workmen's Compensation Miscellaneous

Financial Reporting Regulations, 2025 Page 39 of 51 Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 40 of 51 FORM NO. CBS 113-2 QUARTERLY CLAIM NUMBERS REPORT – FAMILY TAKAFUL BUSINESS Name of Takaful Operator Quarter Ended Class of Business Number of Claims Total Number of Claims Outstanding for the quarter Number of Claims Number of Claims Outstanding at the end of the quarter at the beginning of the quarter intimated during the quarter revived during the quarter settled during the quarter declined during the quarter Ordinary family Group family & Superannuation Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: ….........................................................

Financial Reporting Regulations, 2025 Page 41 of 51 Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 42 of 51 FORM NO. CBS 113-3 QUARTERLY CLAIM AMOUNTS REPORT – GENERAL TAKAFUL BUSINESS Amount in USD Name of Takaful Operator Quarter Ended Class of Business Claims at the beginning of the quarter Claims intimated during the quarter Claims revived during the quarter Total Claims outstanding for the quarter Claims settled during the quarter Claims declined during the quarter Claims outstanding at the end quarter Agriculture Engineering Liability Fire & Perils Marine & Aviation Medical Motor Workmen's Compensation Miscellaneous

Financial Reporting Regulations, 2025 Page 43 of 51 Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 44 of 51

Financial Reporting Regulations, 2025 Page 45 of 51 FORM NO. CBS 113-3 QUARTERLY CLAIM AMOUNTS REPORT – FAMILY TAKAFUL BUSINESS Amount in USD Name of Takaful Operator Quarter Ended Class of Business Claims at the beginning of the quarter Claims intimated during the quarter Claims revived during the quarter Total Claims outstanding for the quarter Claims settled during the quarter Claims declined during the quarter Claims outstandin g at the end quarter Ordinary family Group family & Superannuation Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: ….........................................................

Financial Reporting Regulations, 2025 Page 46 of 51 Date: …................................................................... Date: …................................................................. ..

Form No. CBS 92A-1 REPORT ON NEW FAMILY TAKAFUL PRODUCTS Name of Takaful Operator: Year ending......................... Product name: Items Contributions Gross 1 Net 2 Claims By death 3 By maturity 4 By expiry 5 By surrender of policy 6 By forfeiture of lapse 7 Annuity payments 8 Expenses Commissions 9 Management 10 Other 11 Number of new businesses Contracts 12 Lives 13 Lapses 14 Sums Covered 15 Total Number of takaful contracts 16 Number of Lives 17 Number of Lapses 18 Amount of the Sums Covered 19 Liability Gross 20 Net 21

Financial Reporting Regulations, 2025 Page 48 of 51 Chief Executive Officer Company Director Name: …................................................................. Name: …................................................................. Signature: …......................................................... Signature: …......................................................... Date: …................................................................... Date: …...................................................................

Financial Reporting Regulations, 2025 Page 49 of 51

Financial Reporting Regulations, 2025 Page 50 of 51 FORM NO. CBS 26-1 ACTUARY’S CERTIFICATE

1. I, ____________of _______________, a qualified Actuary in terms of Article 4 of the Takaful Law, having conducted an investigation as per Article 26, have assessed [Name of Takaful firm]'s General/Family Takaful liabilities, valuing them for the balance sheet as at [31 December…………..] and analyzed their year-end changes in the statement of income.
2. The Takaful Operator’s General Takaful liabilities as at 31st December……….. are: Nature of Liability Gross (in USD’000) Net (in USD’000) Claims outstanding IBNR Unearned Contribution Reserves Contribution Deficiency Qard-Hasan
3. The Takaful Operator’s Family Takaful liabilities as at 31st December…………. are: Nature of Liability Gross (in USD’000) Net (in USD’000) Ordinary Family Takaful Group Family Takaful and Superannuation Qard-Hasan
4. I am satisfied that the data utilized for the valuation of the General/Family Takaful Liabilities are adequate, appropriate and reliable. I verified the consistency of the valuation data with the Takaful Operator’s financial records.

Financial Reporting Regulations, 2025 Page 51 of 51 5. In my opinion, the amount of General/Family Takaful Liabilities makes appropriate provision for all participant obligations and the financial statements fairly present the results of the valuation. 6. I certify that the Wakala fees have been properly calculated and are in line with the requirements of Article 79 of the Takaful Law. 7. The underwriting losses in the participants’ fund(s) are due to the following: [outline reason for loss and remedial steps being taken] a) ______________________________________________________________

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b) ______________________________________________________________

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c) ______________________________________________________________

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8. I recommend that the following surplus be distributed to the participants of the fund(s): a) ______________________________________________________________

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b) ______________________________________________________________

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c) ______________________________________________________________

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9. I have determined that the assets of the participants’ fund(s) are in line with Article 19 and Article 84 of the Takaful Law. 10.In making this certificate I have had due regard to the requirements of professional actuarial guidance issued by [Name of recognized actuarial professional body]. 11.I certify that the Financial Condition Report (FCR) fully complies with the requirements of the FCR in the Guidelines on Actuarial Reporting Requirements and Article 117 of the Takaful Law. Name Of Actuary Date Signature

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