Riyadh – Mubasher: The National Commercial Bank (NCB) approved renewing the contract with Al Ahli Takaful Company to provide coverage for the group's lenders for finance portfolios.
The contract will be valid from the date of approval and until the end of December 2017, according to a bourse filing on Thursday.
The Saudi-listed company estimated that total annual premiums from this deal will exceed 20% of total estimated annual premiums of the company in 2017.
The company expected that the agreement will have a positive impact on the firm's financial statements for fiscal year 2017.
The deal is subject to the final approval of the general assembly, the statement said.
