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Article: Solidarity set to enter Saudi market.
- Article from:
- Arab News (Jeddah, Saudi Arabia)
- Article date:
- August 26, 2008
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Byline: Mahmood Rafique
MANAMA: Solidarity Group, a member of the Bahrain-based Ithmaar banking group and one of the largest Takaful companies in the world, has announced to set-up an Islamic insurance company in Saudi Arabia with an authorized and paid-up capital of SR555 million.
Saleh Al-Omair was named as Solidarity Saudi Takaful Company's chief executive officer late last year. The company is now focused on expanding its management team and preparing for the launch of its initial public offering. Solidarity's Saudi associate is expected to commence operations early next year.
Solidarity Group said in a statement that it got the initial ...