07 August 2024
The Insurance Authority signed a coordinating record with the presidency
of state security represented by the permanent counter-terrorism and its
financing committee.
The coordinating record aims for joint cooperation to ensure the
insurance sector safety from exploitation and awareness of related risks. The
record was signed by General Youssef bin Abdul-Aziz Almuhsen, the chairman of
the permanent counter-terrorism and its financing committee in the presidency
of the state security, and Professor Abdullah Saleh Al-Hamid, the insurance
supervisor in the Insurance Authority.
The sign was under the patronage and in the presence of the Chief
Executive Officer of the Insurance Authority Naji Altamimi besides the presence
of some officials from the two sides. The coordinating record aims to promote
integration and coordination level of counter-terrorism financing and strengthen
capacity building through training programs and specialized workshops, which
relate to tasks and competences of both sides to raise awareness about the
crime of terrorism, its financing, risks and mechanism of mitigate those risks.
The Insurance Authority is a government body established by royal decree No. 85
dated 15 /8 /2023.
The IA aims to regulate, stabilize and develop the insurance sector in
the Kingdom and control and supervise this sector. The AI has legal personality
and financial and administrative independence, that is linked to the president
of the council of ministers.