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Addendum announcement from Arabian Shield Cooperative Insurance Company regarding the approval of its Board of Directors to establish a Sharia committee.
| Element List | Explanation |
|---|---|
| Introduction | Reference to Arabian Shield Cooperative Insurance Company announcement regarding the approval of its Board of Directors to establish a Sharia committee. we would like to inform the company’s shareholders that the company received the Insurance Authority’s non-objection letter today, 07/15/2024, regarding the formation of the committee will be as follows: 1- Dr. Omar Zuhair Hafez - Chairman of the Committee 2- Mr. Yasser Abdulaziz Al-Murshidi - Committee Member. 3- Mr. Saud Rashid Al Khudair - Member of the Committee. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-04-03 Corresponding to 1445-09-24 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Dr. Omar Hafez holds a PhD in philosophy in addition to a master’s degree in economics. Dr. Omar has long experience in the field of Islamic banking and cooperative insurance. Mr. Yasser Al-Murshedi holds a bachelor’s degree in Sharia, in addition to a master’s degree in Sharia policy, and has long experience in Islamic banking. Mr. Yasser also works at Alinma Bank as head of the Sharia sector. |
| Financial Impact on the change | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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