Riyadh – Mubasher: Arab National Bank (ANB) has entered into a bancassurance distribution agreement with Walaa Cooperative Insurance Company on 15 December after receiving the approval of the Saudi Central Bank (SAMA).

ANB's board member, Hesham Abdullatif Al Jabr, has a direct interest in the agreement as he is a representative of ANB in Walaa Cooperative’s board, according to a stock exchange statement on Wednesday.

Walaa Cooperative is a 5.48%-owned subsidiary of ANB.