Saudi Indian Cooperative Insurance Co.’s (Wafa Insurance) general assembly approved on Monday a related party transaction to take place with Alinma Makkah Real Estate Fund during the upcoming year.
The insurer’s board chairman Foad Al Rashed and board member Yasser Al Sharif have interest in the real estate fund.
The transaction will not be given any preferential terms, Wafa Insurance said in a bourse statement on Tuesday.
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