Riyadh – Mubasher: Bank AlJazira extended the agreement with AlJazira Takaful to provide collective insurance services for the bank’s finance portfolios.
The contract’s value amounts to SAR 16.1 million, according to a bourse filing on Tuesday.
The agreement is valid for one year starting from the date of signing, Monday 8 August.
The financial impact of the deal will appear on the bank’s financial results in 2016 and 2017.
AlJazira Takaful announced that a prior approval on the deal was obtained from the company’s general meeting on 29 May, 2016, the statement said.
