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Kuwait, 31st March 2014 – As part of the Authority's responsibility in executing and implementing Law No. 7 of 2010 and its Executive Bylaw, and laying down the rules of regulating and supervising securities' activity, in addition to providing protection to dealers, and after meeting the requirements of adjusting the situations of the investment funds according to the provisions of the Executive Bylaw of the Authority's Law, resolutions, and regulations in this regard; the Authority has issued licenses for a group of 17 investment funds, which are the first group from the funds applying for adjusting their situations to be granted licenses, and they are as follows:
1. Al-Wataniya Fund
2. Tharwa Investment Fund
3. Global Al Mamoun Fund
4. NBK Kuwait Equity Fund
5. KAMCO Investment Fund (KIF)
6. Coast Investment Fund
7. Masaref Investment Fund
8. Markaz Forsa Financial Fund
9. Markaz Investment & Development Fund
10. Global 10 Large Cap Index Fund
11. Al-Rouyah Fund
12. Zumorroda GCC Fund
13. Gulf Gate Fund
14. Global Al-Durra Islamic Fund
15. Tharwa Islamic Fund
16. CapCorp Local Fund
17. Al Huda Islamic Fund
Thus, the Authority considers the adjustment of the investment funds situations according to the provisions of the Authority's Law and its regulations of utmost importance. It is a step towards completing the adjustment of other investment funds within the specified period according to the Authority's regulations in this regard. It is also a part of the Authority's pursuit to achieve its goals and regulate the securities' activity in a fair, competitive and transparent manner, reduce the expected systematic risks, protect traders, and provide the services that correspond with the standards approved by the Authority. The Authority urges the investments funds applying for adjusting their situations to work with the Authority in order to complete adjusting their situations pursuant to the provisions of the Authority's Law and Bylaw, in addition to the issued regulations and resolutions.
Title: Capital Markets Authority Issues Licenses for Seventeen Investment Funds
Date Publish
31 March 2014
Kuwait, 31st March 2014 – As part of the Authority's responsibility in executing and implementing Law No. 7 of 2010 and its Executive Bylaw, and laying down the rules of regulating and supervising securities' activity, in addition to providing protection to dealers, and after meeting the requirements of adjusting the situations of the investment funds according to the provisions of the Executive Bylaw of the Authority's Law, resolutions, and regulations in this regard; the Authority has issued licenses for a group of 17 investment funds, which are the first group from the funds applying for adjusting their situations to be granted licenses, and they are as follows:
1. Al-Wataniya Fund
2. Tharwa Investment Fund
3. Global Al Mamoun Fund
4. NBK Kuwait Equity Fund
5. KAMCO Investment Fund (KIF)
6. Coast Investment Fund
7. Masaref Investment Fund
8. Markaz Forsa Financial Fund
9. Markaz Investment & Development Fund
10. Global 10 Large Cap Index Fund
11. Al-Rouyah Fund
12. Zumorroda GCC Fund
13. Gulf Gate Fund
14. Global Al-Durra Islamic Fund
15. Tharwa Islamic Fund
16. CapCorp Local Fund
17. Al Huda Islamic Fund
Thus, the Authority considers the adjustment of the investment funds situations according to the provisions of the Authority's Law and its regulations of utmost importance. It is a step towards completing the adjustment of other investment funds within the specified period according to the Authority's regulations in this regard. It is also a part of the Authority's pursuit to achieve its goals and regulate the securities' activity in a fair, competitive and transparent manner, reduce the expected systematic risks, protect traders, and provide the services that correspond with the standards approved by the Authority. The Authority urges the investments funds applying for adjusting their situations to work with the Authority in order to complete adjusting their situations pursuant to the provisions of the Authority's Law and Bylaw, in addition to the issued regulations and resolutions.
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