AlJazira Takaful Taawuni Co. signed on Oct. 7, real estate finance portfolio protection services agreement and personal finance portfolio protection agreement with Bank AlJazira, according to a bourse statement.

 

Under the agreement, valued at SAR 26.88 million, AlJazira Takaful will provide real estate financing portfolio protection services for the banks’ customers.

 

The insurance coverage will start on Oct. 8 for one year. The agreement is expected to have a direct impact on its financial results for 2021 and 2022.

 

AlJazira Takaful affirmed that no party has been granted special benefits under this agreement.

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