Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
01-08-22
Saudi Central Bank agrees SABB Takaful’s collaboration with Walaa Insurance
(MENAFN) SABB Takaful has established the Saudi Central Bank’s agree for the merger with competing insurer Walaa Insurance, after a compulsory deal among both sides last February.
The carrying out of the business deal continue topic to earning regulatory agreements and votes of the unexpected general assemblies, in line with a bourse filing.
Upon finishing of the agreement, SABB Takaful’s assets, liabilities, and rights are going to be shifted to Walaa Insurance as well as the former is going to cease to exist.
Walaa Insurance is going to witness its stock capital increase to SR850 million (USD227 million), out of which 24 per cent are going to be detained by SABB Takaful’s stock investors.
The merger is going to be conducted via a share swap where Walaa is going to release 0.6 stocks in contradiction of each stock issued by SABB Takaful.
MENAFN01082022000045014228ID1104623945
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us