Riyadh – Mubasher: Solidarity Saudi Takaful announced receiving an official approval from Saudi Arabian Monetary Agency (SAMA) on Tuesday on the company's capital reduction request.
The company said that further developments will be announced in due course, according to a bourse filing on Wednesday.
On 27 December, Solidarity submitted a request to SAMA to decrease its capital.
The board of directors earlier proposed to reduce the capital by 55% from SAR 555 million to SAR 250 million.
