Further to the announcement of the Saudi Arabian Monetary Authority (SAMA) on 7/29/1438 AH corresponding to 4/26/2017 AD, which included preventing the Saudi Indian Company for Cooperative Insurance (WAFA) from accepting subscribers in vehicle insurance, thus preventing it from issuing any new vehicle insurance policy as of 1/1 8/1438 AH corresponding to 4/27/2017 AD. SAMA announces that it has decided to allow the Saudi Indian Company for Cooperative Insurance to accept new subscribers in vehicle insurance and thus allow it to issue vehicle insurance documents as of Tuesday 10/10/1438 AH corresponding to 7/4/2017.

This decision came after the company addressed the observations by SAMA upon suspension and confirmed its commitment to the standards and requirements that guarantee the rights of the insured and the beneficiaries of the insurance coverage. The commitment to standards and requirements ensures continuous development of the system for handling vehicle insurance claims settlement and handling customer complaints. The company affirmed its commitment to continuing to implement corrective measures based on the company.