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CMA LAW: Resolution No. (120) of 2023 Regarding the Renewal of the Securities Activities License for Arzan Financial Group for Financing and Investment
Date Publish
14 August 2023
Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto, and
- The license certificate for securities activities issued to Arzan Financial Group for Financing and Investment, No. (AP/2014/0005), dated 01/09/2020, and
- The application of Arzan Financial Group for Financing and Investment to renew the license for securities activities with the CMA, and
- Based on Resolution No. (24) of 2023 regarding the amendment of the approval authorizations for the Supervision Sector's procedures, issued on 12/02/2023.
The Following Was Resolved:
Article (1)
The securities activities’ license for Arzan Financial Group for Financing and Investment with the Capital Markets Authority is hereby renewed to practice the following activities:
1- Investment Portfolio Manager.
2- Collective Investment Scheme Manager.
3- Investment Advisor.
4- Securities Broker not Registered with the Exchange.
This license is valid for a period of three years, renewable, starting from 01/09/2023.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 14/08/2023.
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