IssuerAnnouncementDetailsV2Portlet
Al-Jazira Takaful Taawuni Company Announces signing an agreement with Bank Aljazira (Related Party).
Element List | Explanation |
---|---|
Introduction | Al Jazira Takaful Tawuni Company announces that on Sunday 15 -05 -1446, corresponding to 17 -11- 2024, an agreement was signed with Bank Al Jazira to provide Group Credit Insurance Plan for Personal Loans. |
Date of Announcement of the Award | 2024-11-17 Corresponding to 1446-05-15 |
Contract Subject Matter | Group Credit Insurance Plan for Personal Loans. |
The Entity with Which the Contract was Signed | Al Jazira Bank |
Date of Signing the Contract | 2024-11-17 Corresponding to 1446-05-15 |
Contract Value | The contract value is 21,183,482 Saudi Riyals. |
Contract Details | Group Credit Insurance Plan for Personal Loans. |
Contract Duration | Coverage starts on November 17, 2024 for one year. |
Financial Impact and the Relevant Period | It is expected that it will have positive impact on the financial results for the year 2024 – 2025 |
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 | Aljazira Takaful confirms that the contract is signed based on the ordinary course of business and has no preferential treatment. |
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.