SAMA suspends Chedid Reinsurance Brokerage

26/05/2018 Argaam

Saudi Arabian Monetary Authority (SAMA) has suspended Chedid Reinsurance Brokerage Ltd as of May 24, 2018.

 

The company was suspended due to severe violation of regulations and weak internal auditing, the Kingdom’s central bank said.

 

The suspension will not be lifted until the firm corrects its situation and abides by SAMA’s rules and regulations, it added.

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