Article One

Definitions: The following terms and phrases, wherever mentioned herein, shall have the meanings assigned thereto unless the context otherwise requires: 1.1 SAMA: The Saudi Central Bank*. 1.2 Rules: The Rules Governing Bancassurance Activities. 1.3 Company: The insurance company licensed to practice insurance business in accordance with the provisions of the Cooperative Insurance Companies Control Law. 1.4 Bank: Any bank licensed to carry out banking business in the Kingdom of Saudi Arabia in accordance with the provisions of the Banking Control Law . 1.5 Bancassurance Activities: Marketing and distribution of insurance products by the Bank to its Clients according to the signed Agreement between the Bank and the Company. 1.6 Agreement: A contract by which the Company and the Bank agree that the Bank will carry out the Bancassurance Activities. 1.7 Authorised Employee: The Bank employee(s) assigned by the agreement with the Company to carryout Bancassurance Activities. 1.8 Client: a natural person or juristic entity who deals with the Bank. * The Saudi Arabian Monetary Agency was replaced By the name of Saudi Central Bank accordance with The Saudi Central Bank Law No. (M/36), dated 11/04/1442H, corresponding in 26/11/2020G .