Riyadh – Mubasher: Bank AlJazira extended the agreement with AlJazira Takaful to provide collective insurance services for the bank’s finance portfolios.

The contract’s value amounts to SAR 16.1 million, according to a bourse filing on Tuesday.

The agreement is valid for one year starting from the date of signing, Monday 8 August.

The financial impact of the deal will appear on the bank’s financial results in 2016 and 2017.

AlJazira Takaful announced that a prior approval on the deal was obtained from the company’s general meeting on 29 May, 2016, the statement said.