- The Role and Responsibility Of the Private Sector Companies in Activating the Role of Internal Audit-
Solidarity, one of the largest Takaful companies in the world, has appointed Mr. Mohamed Khalaf Hassan as Internal Audit Manager. Mr. Hassan, will be based at the Headquarters in the Kingdom of Bahrain.
Solidarity's new appointment further highlights the responsibility of the private sector of private sector companies in activating the role of internal oversight to protect the company's assets. Mohamed's responsibilities are to verify the validity and credibility of financial operations and encourage employees to apply best business practices.
Solidarity's internal audit functions, financial or administrative, focus on supporting all evaluation and control mechanisms. The latter requires continual improvement to facilitate follow-ups with customers and shareholders. These functions involve several departments within the Family Takaful and General Takaful divisions aiming to deliver competitive products and services. In addition, it monitors the performance of the Finance and Corporate Management division that includes marketing, investments, finance, information technology and human resources departments.
Prior to joining Solidarity, Mohamed has held a number of positions including Senior Auditor at the National Audit Court, Auditor at PriceWaterHouseCoopers and as Auditor trainee at Ernst & Young.
Mohammad has a BSC in Accounting from the University of Bahrain. In 2006, Mohamed was honoured with the CIA (Certified Internal Auditor). In addition, he holds the CFSA (Certified Financial Service Auditor) and the CPA (Certified Public Accountant) in 2007.
Commenting on the new appointment, Mr. Ashraf Bseisu, Solidarity's General Manager Finance & Corporate Management division, said: "Solidarity's strategy focuses on establishing specialised functions within each division aiming to further penetrate the market and provide effective and efficient means of business development. In order to continually review and enhance the application of best business practice; Solidarity drafted internal audit policies and appointed Mohamed for internal auditing control; The appointment shows our efforts towards the implementation of strategies that enhance the company's leading role as a prominent provider of General & Family Takaful".
-Ends-
About Solidarity:
Established as one of the Largest Takaful Companies in the world with US$ 100 million in paid up capital and US$ 300 million authorized capital, Solidarity provides Takaful products that comply with Islamic Sharia'h across the globe.
Solidarity is set to capitalize on the success of its opening years by continuing its expansion in to key international markets. To strengthen its current position and achieve the expansion strategy, Solidarity increased the authorized capital to US$ 500 million and the paid up capital to US$ 150 million and is in the process of increasing it to US$ 275 million.
Solidarity provides Islamic Financial Planning through a range of Family Takaful saving and investment plans with Takaful Protection Benefits ideally suited for education, retirement and wealth accumulation; in addition to Home Financing and other general Takaful protection products that include Motor, Property, Marine Employee Benefits (Medical) and other corporate/ business related protection such as Engineering, Liability, Director & Offices and others.
Solidarity has the resources to deliver unmatched risk management financial solutions, tailored to meet the needs of individuals, families and businesses.May Marzooq
Senior Marketing Communications Officer
E-mail: may.marzooq@solidarity.cc
Tel: +973 17 578777
Fax: +973 17 578787
For more information, please contact:
Bassel Hanbali
Head of Corporate Communications & Marketing, Solidarity
Email: bassel.hanbali@solidarity.cc
© Press Release 2007
