SAMA lifts ban on Enaya issuing new policies

24/01/2019 Argaam

 

The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, will allow Saudi Enaya Cooperative insurance Company (Enaya) to issue and renew insurance policies starting Thursday, Jan. 24.

 

The move came after the insurer took necessary measures to comply with regulatory requirements, Enaya said in a statement to Tadawul.

 

SAMA banned Enaya from issuing new insurance policies or renewing outstanding ones, and directed the company to fix irregularities, related to the weak performance of the internal auditing and other compliance issues.

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