Riyadh – Mubasher: Saudi Arabia's Capital Market Authority (CMA) decided to form a supervisory interim committee for managing Solidarity Saudi Takaful (Solidarity), according to a press release on the Saudi Stock Exchange.

Moreover, the Saudi regulator called Solidarity's shareholders to convene no later than three months so as to elect the new board of directors, CMA said.

This decision came after the shareholders failed to elect a new board during several meetings as "the company’s chairman reservation on the procedures done during the meetings", according to the press release.

The interim committee consists of Abdulrahman Bin Abdulmohsen Alnafea (Chairman), Abdulrahman Bin Mohammed Alangri (Vice Chairman), and Khalid Bin Mohammed Alkhuwaiter (Member).