Saudi Indian Company for Cooperative Insurance (Wafa Insurance) has been banned by the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, from issuing auto insurance policies as of April 27, SAMA said in a statement.

 

The insurer was suspended due to its non-compliance with the regulations related to settlement of obligations and customer complaints, said SAMA, which regulates the Saudi insurance market.

 

The ban will be lifted when the company fixes irregularities, the central bank added. 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request