SAMA gives nod to Saudi Enaya’s SAR 100 mln capital reduction
- Date: 01-Sep-2022
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
SAMA gives nod to Saudi Enaya’s SAR 100 mln capital reduction
Saudi Enaya Cooperative Insurance Co. received on Aug. 31 the Saudi Central Bank’s (SAMA) approval to reduce its capital by SAR 50 million to SAR 100 million.
The company will continue to fulfill all the requirements of the other official authorities, and will announce any future updates, Saudi Enaya said in a statement to Tadawul.
Earlier this month, Saudi Enaya’s board of directors changed its recommendation to reduce capital, to partially offset accumulated losses, by SAR 50 million (or 33.3% of capital), Argaam earlier reported.
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