The Saudi Arabian Monetary Authority has issued these Rules according to the Governor’s decision number (441/186) dated 06/07/1441H, to replace the Actuarial Work Regulation for Insurance and/or Reinsurance Companies issued according to the Governor’s Decision number (72/437) dated 25/03/1437H, based on the powers vested to SAMA by the Cooperative Insurance Companies Control Law promulgated by Royal Decree No. (M/32) dated 02/06/1424H (corresponding to 31/07/2003), and its Implementing Regulation issued by the Decision of the Minister of Finance No. (1/596) dated 01/03/1425H (corresponding to 20/04/2004).