Element List |
Explanation |
Introduction |
Aljazira Takaful announces signing a real estate financing portfolio protection services agreement 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 real estate financing 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 26,880,947.84 Saudi riyals. |
Contract Details |
Providing real estate financing 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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