- September 21, 2022
- Posted by: SHMA Consulting
- Category: Uncategorized
The global financial landscape is constantly evolving, and new regulations are regularly being introduced to stabilize economies and protect consumers. This can make it difficult for businesses to keep up-to-date with the latest changes, and non-compliance can result in hefty fines.
That’s why it’s so important for businesses to have a firm understanding of the various financial laws that apply to them, and to ensure that they are compliant with all relevant regulations. Depending on the jurisdiction in which a business operates, there may be different laws that apply.
However, some of the most common financial laws that businesses need to be aware of include those relating to taxation, money laundering, data protection, and consumer protection. By staying up-to-date with financial laws and ensuring compliance with all relevant regulations, businesses can avoid costly penalties and keep their operations running smoothly.
The goal of our strategic alliance is to provide clients in the Middle East region with a cost-effective solution for complying with the global IFRS17 standard. Our team of experts will work closely with SAM Corporate LLC to ensure a smooth and successful implementation. This partnership will allow us to better serve our clients in the region and provide them with the best possible solution for their needs.
Since the advent of IFRS 17 in May 2017, SHMA has been at the forefront of GCC discussions on the subject, participating in multiple conferences and panel discussions with experienced professionals.
Throughout the years, SHMA has worked closely with insurance partners and Takaful operators in the GCC and Pakistan on IFRS 17 implementation from all perspectives – actuarial accounting and IT included.
We look forward to this partnership and will help our clients meet their compliance obligations under the new standard. Moreover, to better serve our clients in the region and provide them with the best possible solution for their needs.