SAIB Assembly Approves Related-Party Contracts

The Saudi Investment Bank’s (SAIB) Board of Directors announced on Monday the results of the Ordinary General Assembly Meeting (First Meeting), which included approval of business and contracts concluded with the Cooperative Company, in which Board Member Abdulaziz Alkhamis holds an indirect interest.

The contract is a medical insurance contract for the Bank employees for the year 2024/2025, valued at SAR 35.3 million. The contract was awarded through a competitive process without preferential terms.