Riyadh - Mubasher: Saudi Enaya Cooperative Insurance announced that it has received the approval of the Saudi Arabian Monetary Agency (SAMA) to cut the company’s statutory deposit from SAR 40 million to SAR 30 million, according to a bourse filing.
According to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday, the reduction represents 15% of the company’s capital, it comes as a result of the recent capital decrease, which was approved on Enaya’s extraordinary general meeting (EGM) on 18 October, from SAR 400 million to SAR 200 million.
