Saudi Enaya gets SAMA nod to appoint financial advisor

12/08/2018 Argaam

 

Saudi Enaya Cooperative Insurance Co. said it received the Saudi Arabian Monetary Authority’s (SAMA) approval to appoint a financial advisor to submit a final report related to fixing irregularities, the insurer said in a bourse statement.

 

Last month, the Kingdom’s central bank ordered the insurer to fix irregularities, related to weak performance of the internal auditing and other compliance issues.

 

SAMA also directed Enaya to appoint a financial advisor within 15 days. The adviser is to submit a final report on the related developments in 60 business days.

 

Saudi Enaya was banned in May by SAMA from issuing new insurance policies or renewing outstanding ones.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read