RegAlert2025-03-03
Added · Updated
General Takaful Accounting Regulations 2019 (Updated as of March 3, 2025)
The Securities and Exchange Commission of Pakistan mandates General Takaful Accounting Regulations 2019 for Takaful and Window Takaful operators, effective for accounting periods commencing on or after January 1, 2020. The regulations establish specific accounting standards for regulatory returns and published financial statements, including detailed rules for recognizing contributions, Wakala fees, Qard-e-Hasna, and Takaful benefits. A March 3, 2025 update introduces an alternative disclosure method for insurers whose Window Takaful operations constitute 25% or more of their overall gross contributions, allowing for consolidated presentation of assets, liabilities, income, and expenses.
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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 20th November, 2019 NOTIFICATION S.R.O. 1416(I)/2019. In exercise of powers conferred by sub-section (3) of section 167 read with sub-section (1) and (2) of section 46 of the Insurance Ordinance 2000 (XXXIX of
2000) and rule 29 of the Takaful Rules, 2012, the Securities and Exchange Commission of
Pakistan, with the approval of the Policy Board, is pleased to make the following regulations, the same having been previously published in the official Gazette through S.R.O. 992(I)/2018 dated August 8, 2018.
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Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.