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In 2008, international security standards were implemented for all bankcards issued in Saudi Arabia. The international system for smart payment card standards was also implemented. In 2012, compliance with the international payment card security standard (PCI) was achieved. In 2015, the new identity of the Saudi Payment Network, Mada, was launched.
Arabian Shield Cooperative Insurance Company sells insurance products including motor, marine, property and medical insurance. In addition, the company also provides claim settlement services to its policyholders. Its customer base includes the private individuals and also the corporate clients. [1]
The General Organization for Social Insurance (GOSI) is a Saudi Arabian government agency concerned with social insurance in the country. GOSI is supervised by a board of eleven directors from government departments, employers and insured persons.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Bupa Arabia (بوبا pronounced /buːpə/) is a Saudi-owned and operated publicly traded company with 800 million Saudi riyals in paid-in capital.Bupa Arabia provides health insurance to the requirements of the Council of Cooperative Health Insurance and the Saudi Arabian Monetary Authority (SAMA).
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The ministry has the function of developing and implementing five-year plans which reflect the long-term economical targets of the country. The ministry is assumed by Faisal bin Fadel bin Mohsen Al-Ibrahim, who was assigned to it on May 2, 2021, to succeed the designated Minister of Finance, Muhammad Abdullah Al-Jadaan.
Salama Islamic Arab Insurance Company (Arabic: الشركة الإسلامية العربية للتأمين) also known as Salama is one of the largest and most established providers of Shariah-compliant Takaful [1] solutions globally.