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Malath Insurance Assembly rejects bonuses
Malad Cooperative Insurance Company rejected the distribution of board of directors' bonuses for the fiscal year 2025 during its ordinary general assembly meeting. Additionally, a recent attempt to appoint a new independent member to the board was unsuccessful. Shareholders discussed the financial report and the auditor’s report, approved the appointment of new auditors, and approved amendments to the governance regulations. However, they refused the payment of bonuses totaling 2.54 million riyals and the extension of the board’s authority for another year. The meeting was held electronically under the chairmanship of the chairman of the board.
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