Riyadh – Mubasher: Arab National Bank (ANB) is preparing an insurance agreement with Walaa Cooperative Insurance Company to provide coverage for the company’s board members and executives for one year, effective as of 8 July 2020.
The contract’s value is more than SAR 663,000, according to a stock exchange statement on Thursday.
Furthermore, board member, Hesham Al Jabr has a direct interest in the contract as being ANB's representative in the insurer’s board, the statement read.
ANB reiterated that the aforementioned agreement was concluded within its normal business activity and no preferential benefits were granted.
Source: Mubasher
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