Saudi Arabia, Weqaya Takaful in difficult position

The Islamic insurer Weqaya Takaful Insurance & Reinsurance is in bad shape. The company has accumulated losses representing 149% of its capital.

In accordance with the regulations governing listed companies, the authorities have imposed a series of measures to improve the the insurer's situation.

The suspension of the listing of the company shares was thus notified to the market.
It is no longer possible to invest in Weqaya Takaful without the approval of market regulators.