Bank Aljazira Announces Contract Sign Off with AlJazira Takaful Taawuni Company
| Element List | Explanation |
|---|---|
| Introduction | Bank Aljazira announces signing a contract providing Group Credit Insurance plan for Personal loans with AlJazira Takaful Taawuni Company on November 13, 2023. |
| Date of Announcement of the Award | 2023-11-13 Corresponding to 1445-04-29 |
| Contract Subject Matter | Providing Group Credit Insurance plan for Personal loans for the banks’ |
| Date of Signing the Contract | 2023-11-13 Corresponding to 1445-04-29 |
| Contract Value | The contract value is 20,308,068 Saudi Riyals. |
| Contract Details | Providing Group Credit Insurance plan for Personal loans for the banks’ customers. |
| Contract Duration | Coverage starts on November 13, 2023 for one year |
| Financial Impact and the Relevant Period | It is expected that this contract will have direct impact on the financial results for the years 2023 – 2024 |
| Related Parties | • Eng. Abdulmajeed Al Sultan has an indirect interest in this contract as he is the Vice Chairman of Bank AlJazira Board of Directors and the Chairman of the Board of Directors of AlJazira Takaful Taawuni Company.
• Mr. Naif AlAbdulkareem has an indirect interest in this contract as he is the CEO & Managing Director of Bank AlJazira and the Vice Chairman of AlJazira Takaful Taawuni Company Board of Directors. |
| Additional Information | Bank AlJazira confirms that the contract is in the ordinary course of business and has no preferential treatment. |
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