1.
DEFINITIONS
1.1 In these Provisions & Conditions:
WAKALA SERVICES FEE means the amount charged by the Takaful Provider to the Scheme Member for the administration services and calculated as a percentage of the Takaful Contribution Amount and inclusive in it.
WAKALA SERVICES means the services rendered by the Takaful Provider in relation to the management of the Takaful Insurance Account.
ACCOUNT MANDATEE means an authorized person at the time of opening the bank account by the accountholder to carry out banking transactions. Details of the Account Mandatee are part of the account opening application form.
APPOINTED SIGNATORY means the person or persons authorized by the Company to sign on the Policy on behalf of the Company.
ARRANGEMENT AND DISTRIBUTION SERVICES means services rendered by the Policyholder to the Takaful Provider in relation to the distribution of the Takaful Scheme to Scheme Members and the details of such services shall be listed in an addendum to the Master Agreement concluded between the Policyholder and the Takaful Provider
ARRANGEMENT AND DISTRIBUTION FEES means the aggregate amount paid by Takaful Provider to the Policyholder out of each Contribution Amount received from each Scheme Member for the Arrangement and Distribution Services.
ASSAULT means any criminal offence by way of threat or physical violence exerted by a Third Party in order to deprive the Scheme Member from his/ her possessions.
ATM means Automatic Teller Machine that is a computerized telecommunications device that provides Scheme Members a method of financial transactions in a public space without the need for a human clerk or bank Teller Service.
ATM CARD means the applicable Abu Dhabi Islamic Bank PJSC ATM Card as issued from time to time to the Scheme Member and subsequently issued, renewal and replacement card, if any, which has been nominated as the facility to which the takaful coverage is to apply.
BENEFICIARY means the Scheme Member who is entitled to receive Takaful Benefit under this Takaful Scheme from the Company/Takaful Provider.
CONTRIBUTION AMOUNT means the total amount received by the Takaful Provider from Scheme Members through the Policyholder which includes the Takaful Contribution Amount and all other applicable fees and charges.
COVERED CARD means the applicable Abu Dhabi Islamic Bank PJSC Visa/MasterCard as issued from time to time to the Scheme Member and subsequently issued, renewal and replacement card, if any, which has been nominated as the facility to which the takaful coverage is to apply.
CUSTOMER(S) means Abu Dhabi Islamic Bank PJSC retail banking customer who is an Accountholder, Joint Accountholder or/and an Account Mandatee or/and holder of a Covered Card who has primary relationship through any type of Bank Account that allows money to be deposited and withdrawn by him or her or the Account Mandatee, who has opted for the Abu Dhabi Islamic Bank PJSC Cash Cover Takaful Scheme.
CUSTOMER RELATIONSHIP IDENTIFICATION NUMBER means a unique relationship registration number assigned to the Customer upon account opening which then becomes the umbrella registration number for any other account opened.
DAILY CASH WITHDRAWAL LIMIT means the limit of amount available for cash withdrawal to the Scheme Member from the ATM.
DATE OF EVENT means the date of occurrence of loss of any of the Takaful Benefits in this Policy.
EFFECTIVE DATE AND TIME OF THE POLICY means the date and time on which the takaful cover becomes effective, which will be during the first week of the month following the month in which the Scheme Member was included in this Takaful Scheme. The coverage will remain active for a period of one month only till the next service charge run is successful in its deduction. If there are insufficient funds in the account then till the next successful service charge deduction the Scheme Member will not be covered.
Exclusions means a list of conditions describing the situations in which the Takaful Provider will not pay the Takaful Benefit as specified in Clause No.9 of the Provisions & Conditions.
FRAUDULENT TRANSACTION means unauthorized fraudulent transactions made on the ATM Card or the Covered Card within 6 hours prior to Scheme Member informing the Policyholder regarding the Assault of the ATM Card or the Covered Card. Coverage to start from the first fraudulent transaction and will last up to 6 hours or until notification to the Policyholder of the ATM Card or the Covered Card being lost or stolen, whichever occurs first.
HOSPITAL means an establishment which meets all of the following requirements: (1) holds a license as a hospital, if licensing is required in the country or governmental jurisdiction; (2) operates primarily for the reception, care and treatment of sick, ailing or injured persons as in-patients and having a minimum of 10 beds for the purpose; (3) provides 24-hour a day nursing service by registered or graduate nurses; (4) has a staff of one or more Physicians available at all times; (5) provides organized facilities for diagnosis and major surgical procedures; (6) is not primarily a clinic, nursing, rest or convalescent home or similar establishment and is not, other than incidentally, a place for alcoholics or drug addicts; and (7) has organised diagnostic and surgical facilities, either on its own premises or in facilities available to the Hospital on a pre-arranged basis.
INJURY means a bodily Injury caused solely, independently and directly by an Assault requiring treatment by a Physician and occurring, during the Policy period.
INPATIENT means admission to a Hospital or clinic for treatment that requires at least one overnight stay.
INTENSIVE CARE UNIT means a specifically designated facility of the Hospital that provides the highest level of medical care; and which is restricted to those patients who are critically ill or injured. Such facility must be separate and apart from the surgical recovery room and from rooms, and beds customarily used for patient confinement.
MEDICALLY NECESSARY means treatment required as per the advice of a Physician.
MUDARABA is a contract between two parties whereby one of them puts a certain amount of capital (the owner of the capital) and the other (Mudarib) puts its expertise and the Mudarib will invest the amount of capital and as such the profit will be shared between them according to the agreement. Any loss beyond the control of the Mudarib (not because of his misconduct, neglecting or exceeding any agreed terms) is exclusively borne by the owner of the capital. While Mudarib loses his work and experience only. Accordingly the relation will be between the insureds/Scheme Members (s) and the Takaful Provider with respect to investing the balance of the Takaful Insurance Account whereby the Policyholder(s)/Scheme Members will be (owner of the capital) and Takaful Provider (Mudarib).
OPT-OUT means the option available to the Scheme Member to cancel his active coverage under this Takaful Scheme. The Scheme Member can Opt-out of the Takaful Scheme by communicating in any form deemed suitable by the Policyholder or visiting any ADIB branch and giving them written notice to cease the Takaful Cover hence stop debiting his account for the relevant Contribution Amount.
MEDICAL EXPERT/PHYSICIAN means a legally licensed practitioner acting within the scope of his license practicing medicine, and concerned with maintaining or restoring human health through the study, diagnosis, and treatment of disease and injury. The attending Physician may not be: a) The Scheme Member; b) The Scheme Member's Relative, partner or spouse or any relative or any friend.
PERIOD OF CONFINEMENT means a period of consecutive days of confinement as an Inpatient caused by an Accident, or Injury. However, successive confinements as an Inpatient caused by or attributable to the same Accident or Injury are considered to be part of the same Period of Confinement, unless the discharge date for the prior confinement is separated from the admission date for the next confinement by at least 45 days. Only one Takaful Benefit is provided for any confinement, regardless of the number of covered Accident, or Injuries for which the confinement is required.
PIN means Personal Identification Number(s) and the confidential code issued by the Policyholder to Scheme Member, or chosen by the Scheme Member from time to time for use which enables the Scheme Member to utilise the ATM.
RELATIVE means the Scheme Member's legally married spouse, parent, step parent, parent in law, grandparent, child, stepchild, legally adopted child, grandchild, brother, brother in law, sister, sister in law, son in law, daughter in law, uncle, aunt, niece, nephew, and first cousin.
ROBBERY means a criminal act by taking of money or goods in the possession of another, from him or her forcefully or without his or her consent.
SCHEME MEMBER means Customer in his individual capacity, who has opted for takaful coverage by participating in this Takaful Scheme.
SURPLUS means the balance amount of Takaful Contribution Amounts and reserves, investment proceeds and after deduction of all expenses of management of insurance operations and payable indemnities. The amount is distributed among Policyholder(s) in proportion of Takaful Contribution Amounts paid by each one after deducting indemnities paid to the Policyholder(s) during the fiscal year where at the end of it surplus is distributed, or this amount is distributed by the Company's Fatwa and Shari'a Supervisory Board.
TAKAFUL BENEFIT means the amount the Scheme Member is entitled to in the event of any risks stipulated under this Takaful Scheme occurring and notwithstanding evidence and assessment, which is established by virtue of occurrence and subject to the Provisions & Conditions of this Policy.
TAKAFUL CONTRIBUTION AMOUNT means the cash amount paid by a Scheme Member to the Takaful Insurance Account as a contribution from his part and from his share of the Mudaraba profits if any in order to reimburse those who shall be exposed to a common peril from the Takaful Insurance Account. This amount is equal to Contribution Amount net of Arrangement and Distribution Fee and (Agency) Wakala Services Fees.
TAKAFUL INSURANCE ACCOUNT means an account that has been established by the Company for the purpose of depositing Takaful Contribution Amounts. This account shall not be a part of the Company's other accounts and Company's liabilities. The purpose of this account will be to indemnify the Policyholder against any losses for covered perils. The Company shall manage Takaful Insurance Account on behalf of the Scheme Members as per the Policy and represent the Scheme Members in all aspects and related matters.
THEFT means a criminal act in which property belonging to another is taken without that person's consent.
THIRD PARTY means any person other than the Scheme Member.
TELLER SERVICE means a service provided by an employee of the Policyholder to the Scheme Member to accept deposits and pay out money and other banking services for the Scheme Member.
Words importing the singular number include the plural number and vice versa and words of masculine gender shall include the feminine unless the context otherwise requires.
All capitalized terms in this product program have the same meaning given to them in Master Policy of CASH COVER TAKAFUL SCHEME - PROVISIONS & CONDITIONS.
2.
ELIGIBILITY
The Scheme Members eligible for takaful cover are the existing Scheme Members and future Customers who are currently not enrolled in Abu Dhabi Islamic Bank PJSC – Cash Cover Takaful Scheme. Staffs who are acting as representatives of companies or corporations will not be covered as Scheme Members. All type of minor accounts shall be excluded from Abu Dhabi Islamic Bank PJSC - Cash Cover Takaful Scheme.
Existing Customers Scheme Members who are already covered under the Abu Dhabi Islamic Bank PJSC - Cash Cover Takaful Scheme as Scheme Members from the first Policy Commencement Date of 01 July 2010 up to this Policy Commencement Date mentioned in this Policy Schedule will NOT be covered unless they voluntarily accepted either through obtaining their written or recorded- call verbal consents to be enrolled under this Policy and accordingly selected as per their existing the appropriate Takaful Benefit option in accordance with Clause 7 of these Provisions & Conditions.
3.
EFFECTIVE DATE OF INDIVIDUAL TAKAFUL COVER
Scheme Members will be eligible from the Policy Commencement Date according to the Effective Date and Time of the Policy.
4.
PARTICULARS TO BE FURNISHED
The Policyholder shall furnish the Company with all the necessary information on a consolidated basis. Such particulars shall, unless otherwise agreed by the Company in writing, be furnished on the Policy Commencement Date and monthly thereafter in the format to be specified by the Company. A process between the Policyholder and the Company will be agreed to for confirmation of deductions and coverage.
5.
EVIDENCE OF AGE
Evidence of age of a Scheme Member satisfactory to the Company shall be required before any Takaful Benefit in respect of him/her is paid under this Policy and if after commencement of the takaful cover hereunder the date of birth of any Scheme Member is found to have been incorrectly notified to the Company, the Company shall notify the Policyholder of the adjustment to be made under this Policy in respect of such incorrect notification. Identity Card or any other satisfactory evidence which the Company may specify will be considered an authentic proof of age.
6.
AMOUNT AND CALCULATION OF CONTRIBUTION AMOUNT
All Contribution Amount payable under this Policy shall be calculated and paid to the Company on each calendar month with the amount of the Contribution Amount being charged to the Scheme Member.
Depending upon the Takaful Benefit option selected by the Customer, the Contribution Amount shall be charged as follows:
|
Takaful Benefit Option |
Contribution Amount Per Month |
|
Option 1 |
AED15.00 |
|
Option 2 |
AED7.50 |
|
Option 3 |
AED5.00 |
The Company may however, with the mutual consent of the Policyholder, modify this rate in the future as it thinks fit. The revised rate would, however, only be applicable from the following Renewal Date. The existing Scheme Members shall be notified in a timely manner about such change and shall be given a 60 day notice period, after which the new changes shall be applicable and the consents of the existing Scheme Members shall be required to continue to be enrolled under this Policy.
No Takaful Benefit will be paid in a situation where a Scheme Member's Contribution Amount and payable thereunder has not been paid on the due date. The Takaful cover will resume only after a Scheme Member has paid the due monthly Contribution Amount for active cover under this Takaful Scheme.
7.
TAKAFUL BENEFIT(S)
GEOGRAPHICAL SCOPE OF COVER: Worldwide
Upon receipt of due proof in writing that the Scheme Member has whilst this Policy is in full force and effect, suffered events set out in the Policy Schedule, the Company subject to the Exclusions, Provisions and Conditions shall reimburse the following Takaful Benefit to the Beneficiary according to the following Takaful Benefit option selected by the Customer:
Option 1:
-
Cash withdrawn from Teller Counter/Services
The amount of loss of cash withdrawal as on the Date of Event, subject to a maximum of AED100,000/- (UAE Dirhams One Hundred Thousand Only) in annual aggregate, whichever is lower, if occurring within a 100 meter radius from any Abu Dhabi Islamic Bank PJSC branch by the way of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the Teller Service of any Abu Dhabi Islamic Bank Branch.
-
ATM Withdrawal Theft/Robbery
The amount of loss of cash withdrawal as on the Date of Event, if occurring within a 100 meter radius from any ATM up to the Daily Cash Withdrawal Limit of the Customer, subject to a maximum of AED100,000/- (UAE Dirhams One Hundred Thousand Only) in annual aggregate, whichever is lower, by way of forced withdrawals made under threat of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the ATM Card or the Covered Card.
-
Fraudulent Transactions
The Amount of loss of cash due to Fraudulent Transaction as on the Date of Event, subject to a maximum of AED100,000/- (UAE Dirhams One Hundred Thousand Only) in annual aggregate, whichever is lower, made by a Third Party by means of Theft/Robbery for losses occurring within 6 hours of the loss of the Scheme Member's ATM Card or Covered Card, or losses occurring prior to the ATM Card or the Covered Card being reported missing to the Policyholder; whichever occurs first.
-
Emergency
Hospital Cash Benefits Following Theft or Robbery
Reimbursement of Emergency Medical Expenses incurred on the Date of Event, subject to a maximum amount of AED 5,000/- (UAE Dirhams Five Thousand Only) per Policy Year per Scheme Member whether paid in one sum or as a result of multiple claims throughout the Policy Year, for medical expenses incurred, if the Scheme Member is Inpatient in a Hospital or Intensive Care Unit due to an Injury as a result of an Assault following Theft /Robbery. The Period of Confinement must be Medically Necessary and recommended by a Physician. The total benefits provided for any one Period of Confinement are subject to the maximum shown in the Policy Schedule.
Option 2:
-
Cash withdrawn from Teller Counter/Services
The amount of loss of cash withdrawal as on the Date of Event, subject to a maximum of
AED50,000/- (UAE Dirhams Fifty Thousand Only) in annual aggregate, whichever is lower, if occurring within a 100 meter radius from any Abu Dhabi Islamic Bank PJSC branch by the way of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the Teller Service of any Abu Dhabi Islamic Bank Branch.
-
ATM Withdrawal Theft/Robbery
The amount of loss of cash withdrawal as on the Date of Event, if occurring within a 100 meter radius from any ATM up to the Daily Cash Withdrawal Limit of the Customer, subject to a maximum of
AED 50,000/- (UAE Dirhams Fifty Thousand Only) in annual aggregate, whichever is lower, by way of forced withdrawals made under threat of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the ATM Card or the Covered Card.
-
Fraudulent Transactions
The Amount of loss of cash due to Fraudulent Transaction as on the Date of Event, subject to a maximum of
AED 50,000/- (UAE Dirhams Fifty Thousand Only) in annual aggregate, whichever is lower, made by a Third Party by means of Theft/Robbery for losses occurring within 6 hours of the loss of the Scheme Member's ATM Card or Covered Card, or losses occurring prior to the ATM Card or the Covered Card being reported missing to the Policyholder; whichever occurs first.
-
Emergency Hospital Cash Benefits Following Theft or Robbery
Reimbursement of Emergency Medical Expenses incurred on the Date of Event, subject to a maximum amount of
AED 2,500/- (UAE Dirhams Two Thousand Five Hundred Only) per Policy Year per Scheme Member whether paid in one sum or as a result of multiple claims throughout the Policy Year, for medical expenses incurred, if the Scheme Member is Inpatient in a Hospital or Intensive Care Unit due to an Injury as a result of an Assault following Theft /Robbery. The Period of Confinement must be Medically Necessary and recommended by a Physician. The total benefits provided for any one Period of Confinement are subject to the maximum limit as above.
Option 3:
-
Cash withdrawn from Teller Counter/Services
The amount of loss of cash withdrawal as on the Date of Event, subject to a maximum of
AED 25,000/- (UAE Dirhams Twenty Five Thousand Only) in annual aggregate, whichever is lower, if occurring within a 100 meter radius from any Abu Dhabi Islamic Bank PJSC branch by the way of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the Teller Service of any Abu Dhabi Islamic Bank Branch.
-
ATM Withdrawal Theft/Robbery
The amount of loss of cash withdrawal as on the Date of Event, if occurring within a 100 meter radius from any ATM up to the Daily Cash Withdrawal Limit of the Customer, subject to a maximum of
AED 25,000/- (UAE Dirhams Twenty Five Thousand Only) in annual aggregate, whichever is lower, by way of forced withdrawals made under threat of Assault or Theft/Robbery by a Third Party on the Scheme Member having obtained such cash by using the ATM Card or the Covered Card.
-
Fraudulent Transactions
The Amount of loss of cash due to Fraudulent Transaction as on the Date of Event, subject to a maximum of
AED 25,000/- (UAE Dirhams Twenty Five Thousand Only) in annual aggregate, whichever is lower, made by a Third Party by means of Theft/Robbery for losses occurring within 6 hours of the loss of the Scheme Member's ATM Card or Covered Card, or losses occurring prior to the ATM Card or the Covered Card being reported missing to the Policyholder; whichever occurs first.
-
Emergency Hospital Cash Benefits Following Theft or Robbery
Reimbursement of Emergency Medical Expenses incurred on the Date of Event, subject to a maximum amount of
AED 1,250/- (UAE Dirhams One Thousand Two Hundred Fifty Only) per Policy Year per Scheme Member whether paid in one sum or as a result of multiple claims throughout the Policy Year, for medical expenses incurred, if the Scheme Member is Inpatient in a Hospital or Intensive Care Unit due to an Injury as a result of an Assault following Theft /Robbery. The Period of Confinement must be Medically Necessary and recommended by a Physician. The total benefits provided for any one Period of Confinement are subject to the maximum limit as above.
8.
CESSATION OF SCHEME MEMBERSHIP
A Scheme Member shall cease to be a Scheme Member and no Contribution Amount will be charged from him on any of the following:
- If the Scheme Member is no longer a Customer of the Policyholder;
- Non-payment of Contribution Amounts by the Policyholder to the Company for a period of 30 days after they have become due; or
- Any other date on which the Scheme Member ceases to be eligible for takaful cover for any fraudulent or criminal reason affecting the takaful cover hereunder.
9.
EXCLUSIONS
Please note that the Scheme Member must take all necessary precautions to maintain security of the ATM Card and Covered Card and applicable confidential codes and personal identification numbers ("PIN"); including avoiding communicating PIN, especially in writing in any document stored with the ATM Card or Covered Card.
The Scheme Member must never lend the ATM Card or Covered Card to any person under any circumstances.
No Takaful Benefit will be payable for losses resulting directly, indirectly, wholly or partly as a result of:
- any withdrawn cash made by other person other than the Scheme Member.
- cash already in the wallet that was not withdrawn from ATM or Abu Dhabi Islamic Bank PJSC Branch, travellers' cheques, negotiable instruments, or money orders; or
- incurred after the ATM Card or Covered Card is reported missing to the Policyholder or six (06) hours following the loss of the ATM Card or the incident.
- caused by the Scheme Member's employees dishonest or fraudulent acts, except in an event of Assault.
- damage caused by fraud or any intentional act by the Scheme Member and/or Scheme Member's Relative and/or Scheme Member's friends;
- loss caused by the effects of nuclear reactions or mutations, whatever the cause that produces them;
- loss caused by civil or international war *, insurrection, rebellion, revolution or terrorism **; or
- loss caused by confiscation or detention by order of a government or public authority.
- hurricane, volcanic eruption, earthquake, flood, typhoon, tornado or cyclone.
* War in this context refers to war, whether declared or not, or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.
** Terrorism in this context refers to any actual or threatened use of force or violence directed at or causing damage, injury, harm or disruption, or commission of an act dangerous to human life or property or disrupts an electronic or communication system, against any individual, property or government, with the stated or unstated objective of pursuing economic, ethnic, nationalistic, political, racial or religious interests, whether such interests are declared or not. Robberies or other criminal acts, primarily committed for personal gain and acts arising primarily from prior personal relationships between perpetrator(s) and victim(s) shall not be considered Terrorist Acts. Terrorism shall also include any act which is verified or recognized by the relevant Government as an act of terrorism.
In addition to the Exclusions listed above, the coverage for Emergency Hospital Cash Benefits Following Theft or Robbery shall not cover the following:
- routine physical exam, any mental, nervous or emotional disorders or rest cures; or
- elective, cosmetic or plastic surgery, except as a result of an Injury caused by a covered accident while the Policy is in force;
If the Company alleges that by reason of these Exclusions any loss is not covered by this Policy, the burden of proving the contrary shall be upon the Scheme Member.
10.
ASSIGNMENTS
The takaful cover provided under this Policy and the Takaful Benefit(s) payable hereunder are not assignable.
11.
CLAIMS
The Scheme Member shall:
1. Give a written notice of a claim must be presented to and received by the Policyholder immediately but in any case not later than 7 business days after the Date of Event of any loss covered under this Policy. The Policyholder shall forward the information received within 2 business days following the receipt of such information to the Company.
Failure to give notice of a claim within the appropriate time frame will result in a denial of the claim. The Scheme Member will provide, at his own expense, all certificates, information and evidence required by the Company in respect of claims.
Notice of a claim should be sent to the Head Office of the Company on the following address:
Abu Dhabi National Takaful
Co. PSC
Claims Department
Tamouh Tower, 25th Floor
Marina Square, Al Reem Island
P.O. Box 35335
Abu Dhabi, United Arab Emirates
Tel: +971-2-4107700
Fax: +971-2-4107800
2. A detailed police report must be filed within a maximum period of Forty-Eight (48) hours.
3. The Scheme Member is required to return the claim form along with the following documentation:
- The original police report or a notarised copy or original of the complaint lodged with the police;
- The sworn affidavit of the Scheme Member;
- A notarized copy or original of the substantiating bank statement, indicating the sums fraudulently debited on accounts.
- A copy of the letter confirming the Scheme Member reported the ATM Card or the Covered Card, and as applicable the additional cards, missing and they were stoplisted/blocked by the bank.
- In the case of an Assault, a medical certificate or otherwise a witness statement (written, dated and signed by the witness, indicating his name, the place and date of his birth, his address and profession), both detailing the circumstances and consequences of the Assault;
- in the case of acute sickness with loss of consciousness, or a traffic Accident, a police or fire department report is required in order to establish this event.
4. If any claim under this Policy is in any respect fraudulent or if any fraudulent means or devices are used by the Scheme Member or anyone acting on his behalf to obtain any benefit under this Policy or if any damage or legal liability is occasioned by the willful act or with the connivance of the Scheme Member, all Takaful Benefit under the Policy shall be forfeited. The Company may at its option cancel the policy immediately with notice to the Policyholder.
5. If no evidence of a claim has been furnished within two (2) months from the date the claim is initially reported then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable under this policy.
6. The takaful cover affected hereunder shall carry no surrender or paid up value.
7. Where applicable, the Policyholder reserves the right to convert a non-AED Individual Takaful Benefit Amount on the Date of Event to AED using the prevailing spot exchange rate at the payment date of the claim into the account of the Scheme Member.
12.
LAW & JURISDICTION
This Policy shall be construed and the rights and obligations of the Parties shall be determined hereunder in accordance with the Laws of the United Arab Emirates (including any governmental acts, orders, decrees and regulations) to the extent such laws do not conflict with Islamic Shari'a Rules and Principles, as interpreted by the Company's Fatwa & Shari'a Supervisory Board. Any court of competent jurisdiction in Abu Dhabi shall have non-exclusive jurisdiction to decide all suits/cases and other matters, arising out of this Policy.
13.
GUIDANCE FROM FATWA & SHARI'A SUPERVISORY BOARD
The principles under which this Takaful Scheme is managed are in accordance with Shari'a as guided by the Company's Fatwa & Shari'a Supervisory Board and the Company shall seek the guidance of its Fatwa and Shari'a Supervisory Board in the operations of this Takaful Scheme and shall ensure that the management and the investment of the assets of this Takaful Scheme are placed in Shari'a compliant instruments.
