| Element List |
Explanation |
| Introduction |
Bank Aljazira announces signing personal finance portfolio protection services agreement with Aljazira Takaful Taawuni Company on 01-03-1443H corresponding to 07-10-2021.. |
| Date of Announcement of the Award |
2021-10-07 Corresponding to 1443-03-01 |
| Contract Subject Matter |
Providing personal finance portfolio protection services agreement for the banks’ customers |
| Date of Signing the Contract |
2021-10-07 Corresponding to 1443-03-01 |
| Contract Value |
The contract value is 21,950,963.09 Saudi riyals. |
| Contract Details |
Providing personal finance portfolio protection services agreement for the banks’ customers |
| Contract Duration |
Coverage starts on October 8, 2021 and for one year |
| Financial Impact and the Relevant Period |
It is expected that this agreement will have direct impact on the financial results for the year 2021 - 2022 |
| Related Parties |
The vice chairman and board member of bank Aljazira Eng. Abdul Majeed Al Sultan has an indirect interest in this contract as he is the chairman of the board of Aljazira Takaful Taawuni Company, and Mr. Khalid Al Othman has an indirect interest in this contract as he is the head of retail banking group of Bank Aljazira and vice chairman / board member of Aljazira Takaful Taawuni Company. |
| Additional Information |
Bank Aljazira confirms that the contract is in the ordinary course of business and has no preferential treatment. |
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