Front Re has received approval to expand into Shariah-compliant retakaful solutions, granted under the Labuan Islamic Financial Services and Securities Act 2010.
According to Front Re CEO Mr Rizal Zakaria, in order to ensure robust governance and alignment with Islamic financial principles, the reinsurance broker has appointed Dr Mohd Rofaizal of AFSHA Shariah Advisory as Shariah Advisor.
In his new role, Dr Rofaizal provides Front Re with independent Shariah oversight and guidance for its retakaful operations.