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2.5. Outsourcing
FINANCIAL SERVICES LEGISLATION
RULES
TAKAFUL AND RETAKAFUL PRUDENTIAL RULES
Schedule 6 Prudential returns by Takaful Operators
Entire Act

2.5. Outsourcing

2.5.1. Outsourcing of risk management function (TRR 2.3.1)

A Takaful Operator may outsource its risk management function to an Insurance Manager who carries out that function in a Shari’ah-compliant manner, subject to the Rules relating to outsourcing in GEN 5.2 (Outsourcing).

2.5.2. Outsourcing of actuarial function (TRR 2.3.2)

A Takaful Operator may outsource its actuarial function to an Insurance Manager who carries out that function in a Shari’ah-compliant manner, subject to the Rules relating to outsourcing in GEN 5.2 (Outsourcing).

2.5.3. Outsourcing of Controlled Functions (TRR 2.4 and GEN 2.2)

A Takaful Operator may appoint an Employee of an Insurance Manager to perform the Controlled Functions of Risk Officer, Internal Auditor, Approved Actuary, Finance Officer and/or Compliance Officer, provided that such Employee is an Approved Individual.