Tawuniya announces new board addition

Jan 19, 2010 (Datamonitor via COMTEX) -- The Company for Cooperative Insurance, or Tawuniya, has appointed Waleed bin Abdul Rahman Al-Essa as a member of its board of directors to be a representative of the public pension agency and as a replacement to Mohammed Bin Abdullah Al-Kharashi.

The Saudi Arabian Monetary Agency has approved the appointment of Mr Waleed Al-Essa as a substitute for Mr Mohammed Al-Kharashi, based on article (6) of the Cooperative Insurance Companies Supervision Law and article (27) of its Implementing Regulations and after reviewing the suitability standards for the elected member.

According to the Companies Law and article (16) of Tawuniya articles of association, the appointment of Mr Waleed Al-Essa in the board of directors until the end of the current session will be added to the agenda of ordinary general assembly in its meeting scheduled to be held during March 2010 for approval.

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