Saudi Arabia calls on five free trade companies to correct their situation

Media In / Riyadh November 27, 2018
The Saudi Arabian Monetary Agency (Sama) called a number of free professions companies (the insurance agency), which did not comply with the full regulatory requirements and instructions related to activity, to correct their situation within 20 days.
It is worth mentioning that these companies did not respond to the communication of the reporting institution through their registered addresses. These companies are: Najm Al-Tawfari Company for Cooperative Insurance Agency, Mazoon Al-Namaa Insurance Agency, Al-Wafa Insurance Company, Shair Insurance Agency, Insurance.
If the company fails to respond during the specified period, it will initiate procedures to request the revocation of the license. If any of these companies have a complaint against the insured and the beneficiaries of the insurance coverage, submit to the Customer Protection Department through the website of WWW.SAMA. GOV.SA or by calling toll free 8001256666.