4.2.1. ORSA Report - requirements

An AIFC-Incorporated Takaful Operator’s ORSA Report must present all of the following:

(a) the qualitative and quantitative results of the ORSA and the conclusions drawn by the AIFC-Incorporated Takaful Operator from those results;

(b) the methods and main assumptions used in the ORSA;

(c) information on the AIFC-Incorporated Takaful Operator's overall solvency needs and a comparison of those solvency needs with its capital adequacy requirements under TRR 5 (Capital adequacy requirements) and its Eligible Capital;

(d) qualitative and (if relevant) quantitative information on the extent to which quantifiable risks to which the AIFC-Incorporated Takaful Operator is exposed are not reflected in the calculation of the Prescribed Capital Requirement.

4.2.2. ORSA Report – approval by the Governing Body

An ORSA Report must include a statement that the Governing Body of the AIFC-Incorporated Takaful Operator participated in the ORSA and approved the ORSA Report.