Title: Resolution No. (145) of 2023 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Kuwait Financial Centre 'Markaz' Company to Market the Units of Markaz Arabian Fund Company

Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and amendments thereto; and
- The Memorandum and Articles of Association of Kuwait Financial Centre 'Markaz' Company; and
- The application of Kuwait Financial Centre 'Markaz' Company to conduct a private marketing for the units of Markaz Arabian Fund Company; and
- Based on Resolution No. (24) of 2023 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 12/02/2023.

The Following Was Resolved
Article (1)
Kuwait Financial Centre 'Markaz' Company is hereby licensed to market 30,000,000 units (thirty million units only) of Markaz Arabian Fund Company as a private subscription in the State of Kuwait. It is incorporated in the Kingdom of Bahrain. The offering price shall be based on the unit’s price on the following evaluation day, plus a subscription fee of 0.5% of the participation amount. The maximum total value of the units offered in the State of Kuwait shall not exceed the amount of KWD 50 million (fifty million Kuwaiti Dinars only). 
The units to be marketed in the State of Kuwait shall be offered for professional clients only, according to Module One (Glossary) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments.
The party responsible for receiving the subscription applications shall be:
- Kuwait Financial Centre 'Markaz' Company.

Article (2)
The objectives of the Collective Investment Scheme are as mentioned in the prospectus.

Article (3)
The marketing license term is one year renewable annually from the issuance date of the CMA’s license, and after paying the prescribed fees.

Article (4)
The prescribed fees shall be paid within one month from the date of issuance of this Resolution. In case of default, this Resolution shall be considered null and void.

Article (5)
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.

Anwar Al-Mudhaf 
Acting Head of Supervision Sector 
Issued on: 24/10/2023.

Copy of the Official Document