Bank Al Jazira signs a contract with “Jazira Takaful” worth 45.9 million riyals
Today, Bank Al Jazira signed a contract with Al Jazira Takaful Cooperative Company "Symbiosis Island" To provide insurance services (collective protection insurance for the real estate financing portfolio of Bank Al Jazira customers).
The bank said in a statement on its website "Saudi Arabia trading"The value of the contract is estimated at 45.9 million riyals, while coverage begins on December 13, 2025, for a period of one Gregorian year.
It is expected that this contract will have a direct impact on the bank’s financial statements during the years 2025 and 2026.
He explained that there are related parties, namely:
• Chairman of the Board of Directors of Al Jazira Bank, Eng. Abdul Majeed Al-Sultan, has an indirect interest in this contract as he is a first-degree relative of a member of the Board of Directors of Al Jazira Takaful Cooperative.
• The CEO and Managing Director of Bank Al-Jazira, Naif Al-Abdulkarim, has an indirect interest in this contract as he is the Chairman of the Board of Directors of Al-Jazira Takaful Cooperative Company.
• The CEO of Al-Jazira Financial Markets Company (Al-Jazira Capital), which is 100% owned by Bank Al-Jazira Naif Al-Misnad, has an indirect interest in this contract as he is a member of the Board of Directors of Al-Jazira Takaful Cooperative Company.
• Sami bin Jadaan Al-Muhaid has an indirect interest in this contract as he is a member of the Board of Directors of Al-Jazira Takaful Cooperative Company and one of the senior executives at Bank Al-Jazira.
• Mohammed bin Abdul Rahman Al-Mousa has an indirect interest in this contract as he is a member of the Board of Directors of Al-Jazira Takaful Cooperative Company and one of the senior executives at Bank Al-Jazira.
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