“Gulf Insurance” obtains the approval of the “Saudi Central” for the cyber risk insurance product

Gulf Insurance Group “GIG” announced that it had received the final approval of the Central Bank of Saudi Arabia for the cyber risks insurance product provided to group customers.

This came in the company’s statement to “Tadawul Saudi Arabia”, today, Thursday.

It is noteworthy that the company had announced, in September 2022, that it had signed a contract to obtain credit facilities with a local bank, a “related party”, in the amount of 133 million dinars ($430.6 million).

The company said that there is no financial impact of this step on the company at the present time, but its financial impact will be reflected in the collected data, “according to the amounts that will be used during the subsequent periods of the value of the facilities.”