SABB Takaful Co, on Thursday received a no-objection letter from the Saudi Arabian Monetary Authority (SAMA) on the appointment of Mohammed Al Shaya as board chairman, the insurer said in a bourse statement.

 

The board’s decision, which was made on June 4, 2018, will be effective until the end of the current term on May 14, 2019.

 

Al Shaya was appointed after the company’s former board chairman, Mohammed Al Yahya, submitted his resignation on effective from July 31, 2018.

 

In a separate statement, the company said that its general assembly meeting approved appointing Salman Akbar as member of the audit committee and Bandar Al Muhanna as board member.  

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