SABB Takaful shareholders approve amending bylaws

SABB Takaful’s shareholders approved amending bylaws related to the articles of incorporation, company’s name, acquisitions, investments, capital hike and cut, among others, during the extraordinary general meeting held on June 29, 2020, the company said in a bourse statement.

Shareholders also approved audited financial statements, as well as board and audit reports for FY2019.

Meanwhile, they approved appointing an external auditor to audit Q2, Q3, Q3 and FY2020, in addition to Q1 2021, and discharging board members from liabilities for FY2019.

Furthermore, they approved a board remuneration of SAR 736,000 for FY2019 and related party transactions.