Al Rajhi Bank announces the increase of its stake in Al-Rajhi Company for Cooperative Insurance (Alrajhi Takaful)

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Announcement Detail	Al Rajhi Bank announces the increase of its stake in Al-Rajhi Company for Cooperative Insurance (Alrajhi Takaful). The Bank have obtained approval from Saudi Central Bank “SAMA” to complete the process of increasing its stake in the company (Alrajhi Takaful) to 35%. The initiative strengthens the Bank’s role in the development of the financial sector and deepen its presence through partnerships that contribute to the development of financial products to its customers and to support Alrajhi Takaful and its qualified cadres in achieving the company’s strategy in the insurance sector.

Element List

Explanation

Announcement Detail

Al Rajhi Bank announces the increase of its stake in Al-Rajhi Company for Cooperative Insurance (Alrajhi Takaful). The Bank have obtained approval from Saudi Central Bank “SAMA” to complete the process of increasing its stake in the company (Alrajhi Takaful) to 35%.

The initiative strengthens the Bank’s role in the development of the financial sector and deepen its presence through partnerships that contribute to the development of financial products to its customers and to support Alrajhi Takaful and its qualified cadres in achieving the company’s strategy in the insurance sector.