Al Rajhi Banking and Investment Corporation (SASE:1120) agreed to acquire additional 12.5% stake in Al Rajhi Company for Cooperative Insurance (SASE:8230) on September 5, 2022. Al Rajhi Banking and Investment Corporation (SASE:1120) also obtained approval from the Saudi Central Bank to complete the process of increasing its stake in the insurer. Previously, it owned 22.5% of Al Rajhi company.