| Element List |
Explanation |
| Date of announcement of the assignment |
2019-05-13 Corresponding to 1440-09-08 |
| Subject of contract |
Provide insurance coverage on the mortgage program and group life for the Bank. |
| Date of contract sign off |
2019-05-13 Corresponding to 1440-09-08 |
| Contract Value |
Above 1% of the total gross sales of the latest audited annual financial statements for 2018G. |
| Contract Details |
Al Alamiya for Cooperative Insurance Company announces that it has received on Monday 2019-05-13 Corresponding to 1440-09-08, the confirmation from Riyad Bank (a related party) to provide insurance coverage on the mortgage program and group life for the Bank. for a period of one year starting on 01/05/2019G. |
| Contract Duration |
One year |
| The financial impact and period that this project will affect |
The company expects for this agreement have a positive financial impact on its results for the year 2019G |
| Related Parties |
Board members Mr. Khalid Hariry and Mr. Mohammed Al-Shakwan have a direct interest in the agreement as they are representatives of Riyad Bank in the Company Board. |
| Additional Information |
The company confirms that this policy has been issued within the usual course of company business and no preferential treatment was given. |
Comments