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Walaa Cooperative Insurance Company announces signing an insurance agreement with Arab National Bank (Related Party) to provide an insurance coverage on the auto leasing financing program

Element ListExplanation
Introduction Walaa Cooperative Insurance Company announces the signing of insurance agreement with Arab National Bank for providing insurance coverage on the auto leasing financing program
Date of Announcement of the Award 2020-05-21 Corresponding to 1441-09-28
Contract Subject Matter Insurance coverage on the auto leasing financing program
Date of Signing the Contract 2020-05-21 Corresponding to 1441-09-28
Contract Value The contract value is more than 40,000,000 SAR
Contract Details Walaa Cooperative Insurance Company announces that it has received on Thursday 2020-05-21 Corresponding to 1441-09-28 the confirmation from Arab National Bank (a related party) to provide insurance coverage on the auto leasing financing program. For a period of one year starting on 01/06/2020
Contract Duration One Year
Financial Impact and the Relevant Period The financial impact of the policy will appear on the financial results of the year 2020
Related Parties The Board member Mr. Hesham Al Jabr have interest in the policy as he is the representative of Arab National Bank in the Board of Directors of the Company
Additional Information The Company hereby confirms that no preferential treatment was given on this policy and it is within the usual business activity of the Company.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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