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The Company for Cooperative Insurance Announces the Formation of the Audit Committee Members
| Element List | Explanation |
|---|---|
| Introduction | Cooperative Insurance Company announces that it has obtained the No Objection from the Saudi Central Bank on 03-11-1444H corresponding to 24-05-2023 appointing the Chairman and members of the Audit Committee as follows: 1- Abdulaziz Bin Mohammed Alsedeas (Chairman of the Committee- Independent) 2- Ehsan Bin Amanallah Makhdoum (Member -Outside the board) 3- Khalid Bin Soliman Alsoliman (Member - Outside the board) This is based on the Board of Directors resolution on 10-04-2023 until the end of the current session of the Board of Directors on 09/04/2026. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Abdulaziz Bin Mohammed Alsedeas |
| Membership Start Date | 2023-04-10 Corresponding to 1444-09-19 |
| Brief Resume of the Appointed Member | Mr. Abdulaziz Alsedeas has distinguished practical experience of more than 27 years, as he served as CEO of Al Rajhi Cooperative Insurance Company “Rajhi Takaful” from 2008 to 2020. He also held many positions in the Banking Sector, He was appointed as a board director for Tawuniya in this term since April 2023. He obtained a bachelor's degree in English Literature in 1998 from King Saud University, and a high diploma in business administration in 2012 from the University of Leicester in the United Kingdom. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Ehsan Bin Amanallah Makhdoum |
| Membership Start Date | 2020-03-26 Corresponding to 1441-08-02 |
| Brief Resume of the Appointed Member | Mr. Ehsan Makhdoum has distinguished practical experience for more than 25 years, Licensed public accountant in the Kingdom of Saudi Arabia and United States of America. A former partner in one of the big four international auditing firm. Holding a B.S. degree in Accounting from King Fahad University of Petroleum and Minerals (Dhahran – KSA) with honor. Also, an associate of (SOCPA) and (AICPA). Has a diploma in “Board of Directors” from the Financial Academy and Board of Directors Institution (GCCBDI). Has a wide and deep knowledge and experience in businesses and corporates in a variety of industries. He was an audit committee member for Tawuniya during the last term started in 26-03-2020 until 10-04-2023. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Khalid Bin Soliman Alsoliman |
| Membership Start Date | 2020-03-26 Corresponding to 1441-08-02 |
| Brief Resume of the Appointed Member | Mr. Khaled Alsoliman has distinguished experience of 35 years, having held several positions in many Saudi banks such as the National Bank, the Arab National Bank, and the Saudi British Bank (SABB), in addition to the position of auditor for Ernst & Young. He obtained a bachelor's degree in accounting in 1987 from King Saud University. In addition to the Fellowship of the American Institute of Certified Public Accountants. He was an audit committee member for Tawuniya during the last term started in 26-03-2020 until 10-04-2023. |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2023-04-10 Corresponding to 1444-09-19 |
| Additional Information | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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