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Gulf Union Al Ahlia Cooperative Insurance Co. Announces the formation of the Audit Committee
| Element List | Explanation |
|---|---|
| Introduction | Gulf Union Al Ahlia Cooperative Insurance Company announces that its Board of Directors has approved the formation of the Audit Committee for the Board term commencing on 17 December 2025 and lasting for four years, ending on 16 December 2029, following the receipt of a no-objection from the Insurance Authority approving the following members: 1- Mr. Abdulaziz Abdullah Al Naim – Committee Chairman - Independent Board Member 2- Mr. Abdullah Ali Al Hajri – Committee Member - Independent Member from outside the Board 3- Mr. Sulaiman Ibrahim Al Rebdi – Committee Member - Independent Member from outside the Board |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Abdulaziz Abdullah Al Naim (Committee Chairman, Independent Board Member) |
| Membership Start Date | 2025-12-17 Corresponding to 1447-06-26 |
| Brief Resume of the Appointed Member | Mr. Abdulaziz Abdullah Al Naim holds a Bachelor’s degree in Business Administration, majoring in Finance, from MIT, United States. He is also a Chartered Financial Analyst (CFA). He has extensive experience in finance and accounting, in addition to significant experience on boards of directors. His professional background spans multiple sectors, including asset management, investment banking, insurance, food and beverages, chemical industries, logistics services, and education. |
| The date of the approval by other official authorities | The Company has obtained the Insurance Authority’s non-objection to the appointment on 22/04/2026 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Abdullah Ali Al Hajri (Committee Member, Independent Member from outside the Board) |
| Membership Start Date | 2025-12-17 Corresponding to 1447-06-26 |
| Brief Resume of the Appointed Member | Mr. Abdullah Ali Al Hajri holds a Master’s degree in Financial Sciences from Southern New Hampshire University, USA, and a Bachelor’s degree in Accounting from King Faisal University, Kingdom of Saudi Arabia. He is a fellow of SOCPA, and has completed numerous training courses. He possesses extensive experience in finance and accounting, as well as significant experience in serving on and chairing audit committees across multiple companies. |
| The date of the approval by other official authorities | The Company has obtained the Insurance Authority’s non-objection to the appointment on 11/03/2026 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Sulaiman Ibrahim Al Rebdi (Committee Member, Independent Member from outside the Board) |
| Membership Start Date | 2025-12-17 Corresponding to 1447-06-26 |
| Brief Resume of the Appointed Member | Mr. Suleiman Ibrahim Al Rebdi is a Certified Public Accountant (CPA) from the United States and a fellow of the Saudi Organization for Chartered and Professional Accountants. He also holds the Advanced Diploma in International Taxation (ADIT). He possesses an advanced academic background, including both Bachelor’s and Master’s degrees in accounting, in addition to a Bachelor’s degree in Law. He has professional experience in the fields of tax/Zakat, financial reporting, and project management. |
| The date of the approval by other official authorities | The Company has obtained the Insurance Authority’s non-objection to the appointment on 11/03/2026 |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2026-04-26 Corresponding to 1447-11-09 |
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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