The Ministry of Municipal and Rural Affairs and Housing (MMRAH) has signed a Memorandum of Understanding (MoU) with Najm for Insurance Services. As part of the partnership, the two entities will work together to support road performance development initiatives and launch traffic awareness campaigns. The agreement was signed under the patronage of His Excellency Majed bin Abdullah Al-Hogail, the Minister of Municipal, Rural Affairs and Housing, in the presence of MMRAH and Najm officials.
The Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Projects and Public Health, Eng. Hassan bin Marizin Asiri, signed the MoU as a representative of the Ministry, while Najm was represented by acting CEO, Mohammad Yahya Al-Shehri. The agreement will play a key role in furthering cooperation to improve road performance (Accidents – Traffic Congestion) in accordance with the regulations and instructions. The partnership will also serve to promote awareness campaigns to avoid traffic accidents launched by various entities affiliated with the Ministry.
As part of the agreement, MMRAH will partner with Najm to support its “Red Box” initiative with the aim of monitoring locations that have experienced an increase in the number of traffic accidents and classify them into three categories: “Critical”, “Medium”, and “Low”. MMRAH will then enhance and develop these areas to reduce accident rates and adopt the Kingdom’s official map for all of Najm’s operations after completing all necessary regulatory procedures.
Under the supervision of the Saudi Central Bank (SAMA), Najm seeks to enhance the insurance sector’s role in cooperating with government entities within the framework of its social responsibility and provide statistical data and spatial reports to the Ministerial Committee for Traffic Safety and the relevant authorities to create appropriate solutions to reduce traffic accident rates. This will lead to reducing the financial consequences and economic losses resulting from traffic accidents.