Arab National Bank announces the renewal of a Marine Cargo Open Cover policy on a declaration value basis with Metlife AIG ANB Cooperative Insurance Company covering the cargo of the Letter of Credit clients of Arab National Bank. The Value of the contract is based on the value of shipments which will be known at the time of coverage. The total value of the contract in the previous period was SR 950,636. The duration of policy is one year effective March 8, 2018 and renewable based on mutual agreement thereafter. The Board member Robert Eid and Nizar Al Twaijri have direct interest in the policy as they are representatives of Arab National Bank on the Board of Directors of Metlife AIG ANB Cooperative Insurance Company. The Bank hereby confirms that no preferential treatment was given on this policy and it is within the usual business activity of the Bank. The renewal of this contract will be presented for approval by the General Assembly in its coming meeting that will be announced later.