1)

The provisions of this Decree-Law and the resolutions, regulations, and directives issued thereunder shall apply to Takaful Insurance Companies, in so far as they do not contradict the nature of their business, and they may not engage in insurance business in such a manner that violates the provisions and principles of Islamic Sharia’ah, provided it must be reflected in its memorandum of association and articles of association.

2)

The Board shall issue a regulation setting out aspects of activities, conditions, rules and standards of the Takaful Insurance Company’s business in a manner that is appropriate with the nature of the license granted thereto.