The transfer will come into effect from the beginning of January 2020, the bank disclosed in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
It is worth noting that Bank Aljazira owns a 30% stake in Aljazira Takaful.
A positive impact on the bank’s financial results is expected next year, the statement noted.
In October, Al Jazira signed two insurance agreements with its subsidiary with a total value of SAR 40 million.
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