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 Arabian Monetary Authority.

1.2 Rules: The Rules Governing Banc assurance 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 Banc assurance 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 Banc assurance Activities.

1.7 Authorised Employee: The Bank employee(s) assigned by the agreement with the Company to carryout Banc assurance

Activities.

1.8 Client: a natural person or juristic entity who deals with the Bank.