Banque Saudi Fransi announces that it has been agreed with the General Authority of Zakat and Tax to settle Zakat claims for the previous financial years and until the end of the fiscal year 2017 by paying SAR 1,510,669,452. The Bank would like to clarify that the settlement will result a decrease in shareholders’ equity by SAR 1,510,669,452. The settlement will also be applicable for the fiscal year 2018, and the amount due will be disclosed in subsequent financial statements.
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