Title: Resolution No. (76) of 2024 Regarding Cancellation of the License and Liquidation of Al-Nokhetha Fund

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
- Resolution of the Unit Holders Assembly of Al-Nokhetha Fund held on 20/05/2024, approving the appointment of Rasameel Investment Company as the Fund’s liquidator; 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 license of Al-Nokhetha Fund managed by Rasameel Investment Company at the CMA is hereby cancelled.

Article (2) 
Rasameel Investment Company is hereby appointed as the Fund’s liquidator. The liquidator shall only proceed with the liquidation works after one month of this Resolution.

Article (3)
Al-Nokhetha Fund shall be removed from the Funds Register at the CMA after completing the liquidation process. 

Article (4)
The Fund’s manager shall meet all the legal obligations set by Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and amendments thereto, for the period prior to the enforcement this Resolution.

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.  

Fahed Al-Fadli
Acting Head of Supervision Sector
Issued on: 12/06/2024.
 

Copy of the Official Document