Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has elected a new board of directors for the next three-year term, starting May 30, 2018, the company said in a statement to Tadawul on Thursday.

 

Abdullah S. Al Rajhi was reappointed as board chairman.

 

In addition, the company elected the audit committee members and approved the committee’s terms of reference and remuneration policy for the next three years.

 

The board and auditor’s reports as well as financial statements for fiscal year 2017 were also endorsed.

 

Shareholders also approved board remuneration of SAR 1.1 million for the previous fiscal year.

 

An external auditor was also appointed, the statement added.

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