Al Rajhi Takaful inks mortgage insurance contract with Al Rajhi Bank

The contract duration will be for one year until August 2022

  
A bundle of 500 and 100 Riyal banknotes in Saudi Arabia.  Image used for illustrative purpose.

A bundle of 500 and 100 Riyal banknotes in Saudi Arabia.  Image used for illustrative purpose.

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Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has signed a contract with Al Rajhi Bank to provide mortgage insurance coverage for the bank’s clients.

The insurance company was awarded the contract on 2 August 2021, according to a bourse disclosure to Tadawul.

The contract duration will be for one year until August 2022, while its value might exceed 5% of the total sales in 2020.

The contract is expected to have an impact on Al Rajhi Takaful’s financial results for the full year 2021.

Source: Mubasher

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