PINS 6.6.4 Surplus or deficit to be determined annually

(1) On an annual basis, every takaful entity must determine any surplus or deficit arising on each separate takaful fund.
(2) A takaful entity must not distribute a surplus or deficit from a takaful fund it has established and maintains where the takaful business attributed to this takaful fund is long term insurance business until the value of this surplus or deficit has been determined by an approved actuary in accordance with rule 9.1.3(4)(h).
(3) Any distribution must be performed within 4 months of the reference date of the actuarial investigation referred to in (2).
Amended by QFCRA RM 2019-1 (as from 28th March 2019).