NCB’s general assembly approves contracts with Tawuniya

01/01/2018 Argaam

 

The National Commercial Bank’s (NCB) general assembly meeting held on Sunday has approved related party contracts with the Company for Cooperative Insurance (Tawuniya).

 

NCB board member Abdulaziz Al-Zaid is also a board member at the insurance company, the bank said in a statement to Tadawul.

 

Shareholders approved a SAR 143.32 million contract to Tawuniya to provide medical insurance to NCB staff in 2018. The proposal has been chosen through bidding without preferential conditions, the statement added.

 

During the meeting, shareholders also approved the annual remuneration policy for board members; amendment of the Nomination, Compensation and Governance Committee Charter; and amendment of the policies, criteria and procedures for nomination to the board of directors’ membership.

 

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