SABB Takaful Co. signed, today, May 4, 2021, a bancassurance agreement with Saudi British Bank (a related party) after receiving the approval from the Saudi Central Bank (SAMA) on April 8, 2021, the insurer said in a statement to Tadawul.
Board members Mohammad Alshaya, Bashaar Alquinabit, Yasser Al Barrak, Faris Alshareef, and Maha Alsudairi have indirect interest in the deal as bank's representatives.
The Tadawul-listed insurance firm confirmed that the deal has no preferential treatment and falls within the normal course of its business.
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