SAMA directs UCA to appoint independent adviser to assess governance

04/10/2021 Argaam

Logo of United Cooperative Assurance Co.

United Cooperative Assurance Co. (UCA) received, on Oct. 4, a letter from the Saudi Central Bank (SAMA) to appoint an independent adviser to assess the company's governance as well as prepare and evaluate some internal policies and procedures, the company said in a bourse filing.

 

The move came after the observations made by the central bank in this regard.

 

The board of directors affirmed its commitment to implementing and working to accomplish the tasks as required, the statement added.

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