Saudi Enaya Cooperative Insurance said it has received on Tuesday Saudi Arabian Monetary Authority’s (SAMA) no-objection letter on its proposed capital cut.
The company will complete all other regulatory approvals and processes in due course, the insurer said in a bourse statement.
Last week, Saudi Enaya’s board of directors recommended a 50 percent capital reduction to SAR 100 million from SAR 200 million to offset accumulated losses, Argaam previously reported.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}