Article (23) Accounts for Other Takaful Insurance Types and Classes
23.1
One or more accounts called (Participants’ Account) must be opened with the Company per the non-family Takaful insurance types and classes. The accrued Contributions must be recorded in such account(s), in addition to the investment revenues realized from investing the funds accumulated in the said account(s).
23.2
Due compensations and benefits must be paid from the Participants' Account in accordance with the terms and conditions of Takaful Insurance Policies.
23.3
Inputs and outputs of such account(s) must be determined in accordance with the applicable accounting rules.
23.4
The assets and liabilities of the Participants’ Account should be completely separate from the Company's assets and liabilities, and should not include the deposit required in accordance with Article (42) of the Law.
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