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Saudi insurance row settled
- Saudi Arabia: Sunday, May 28 - 2006 at 11:01
The Saudi Arabian Monetary Agency has referred the licences of 13 insurance companies to King Abdullah for final approval, reported Gulf News. Saudi authorities had previously returned the licences to SAMA as some investors appeared to be founders of more than one company, a breach of the new insurance law. SAMA has now clarified the situation and no single investor has been named as a founder of more than company.
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Jonathan Sheikh-Miller, Deputy EditorSunday, May 28 - 2006 at 11:01 UAE local time (GMT+4)
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