Bank Aljazira inks SAR 16.9 mln insurance renewal with Aljazira Takaful

10/09/2015 Argaam

Bank Aljazira signed a SAR 16.9 million agreement on Wednesday with Aljazira Takaful Taawuni Company to renew collective insurance services of the bank’s personal financing portfolio.

 

Coverage, which started on August 8, is valid for one year, Aljazira Takaful said in a statement to the Saudi bourse, Tadawul. The insurer expects to see positive impact on its 2015-2016 financial results.

 

Bank Aljazira holds a 30 percent stake in Aljazira Takaful, according to data compiled by Argaam.

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