| Element List |
Explanation |
| Introduction |
Aljazira Takaful announces for signing a Group Credit Insurance policy for personal loans with Aljazira Bank 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 it will have a positive impact on the financial results for the year 2021 - 2022 |
| Related Parties |
The Chairman of the Company’s Board of Directors, Eng. Abdul Majeed bin Ibrahim Al Sultan has an indirect interest in this contract as he is a Board Member in Bank Aljazira, and the Board Member, Mr. Khalid bin Othman Al Othman, has an indirect interest in this contract as he is a Board Member of Aljazira Takaful Taawuni Company and one of the Senior executives of Bank Aljazira. |
| Additional Information |
Aljazira Takaful Taawuni Company confirms that the contract is in the ordinary course of business and has not been granted any special benefits. |
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