SAMA suspends Weqaya Takaful's activities

The Saudi Arabian Monetary Agency (SAMA) has suspended Weqaya Takaful'shares from trading.

This sanction is motivated by the non-compliance with the regulation and by the losses accumulated by the insurance company which amount to 147% of its capital.

The company has already been refused a request for a capital increase of 150 million SAR (40 million USD) for non-compliance with SAMA requirements.

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