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Bank Aljazira announces signing an agreement with Al-Jazira Takaful Taawuni Company (Related Party)

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Introduction Bank Aljazira announces that on Sunday 16 Ramadan 1443, corresponding to 17 April 2022, an agreement was signed with Al-Jazira Takaful Taawuni Company to provide Banker Blanket bond.
Date of Announcement of the Award 2022-04-17 Corresponding to 1443-09-16
Contract Subject Matter Banker Blanket bond.
Date of Signing the Contract 2022-04-17 Corresponding to 1443-09-16
Contract Value The contract value is 6,300,000 Saudi riyals.
Contract Details Banker Blanket bond.
Contract Duration For one calendar year starting from signing date.
Financial Impact and the Relevant Period It is expected that it will have Positive impact on the financial results for the year 2022 – 2023.
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 also 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 Bank Al Jazira confirms that the contract is in 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.

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