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Saudi Central BankSaudi Central BankNewsLIFTING BAN ON MOATAMADAH INSURANCE AGENCY
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LIFTING BAN ON MOATAMADAH INSURANCE AGENCY
11/27/2018 12:00 AM

 SAMA would like to announce that it has decided to lift the ban on the Moatamadah Insurance Agency and allow it to offer insurance policies for all insurance types as of 19/03/1440H (27/11/2018). This decision comes to supersede SAMA previous decision on 13/10/1439H (27/06/2018) banning the company from offering insurance policies for all insurance types.

SAMA would like to clarify that its recent decision to lift the suspension came after the company has corrected its violations and confirmed its commitment to standards and requirements that guarantee the rights of consumers and beneficiaries of insurance coverage. The company has also affirmed that it will continue implementing the outstanding corrective actions. On the other hand, SAMA calls upon all insureds and beneficiaries to not compromise their rights and to contact their company in this regard. In the event that the company does not cooperate, insureds and beneficiaries should not hesitate to file a complaint with the Consumer Protection Department through samacares.sa or by contacting Toll-Free Number 8001256666.

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