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Title: Resolution No. (116) of 2025 Regarding the License Application Submitted by KFIC Financial Brokerage Company to Practice Securities Activities
Date Publish
06 July 2025
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
- Resolution No. (60) of 2016 Regarding Amending the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments by Adding the Activity of a Qualified Securities Broker Registered with an Exchange issued on 27/06/2016; and
- The securities activities license certificate for KFIC Financial Brokerage Company No. (AP/2013/0005) issued on 11/04/2025, and
- The application for licensing securities activities submitted by KFIC Financial Brokerage Company; and
- Resolution No. (101) of 2025 Regarding Entry into Force of the Second Batch of the Third Phase of the Market Development Project issued on 04/06/2025; and
- Based on Resolution No. (04) of 2025 regarding the amendment of the approval authorizations for the Supervision Sector's procedures, issued on 12/01/2025.
The Following Was Resolved
Article (1)
The CMA hereby grants preliminary approval to KFIC Financial Brokerage Company to license the activity of Qualified Securities Broker registered with an Exchange.
This approval is valid for six months, renewable, starting from 06/07/2025 and ending on 05/01/2026 in order to meet the criteria specified by the CMA.
Article (2)
The Company mentioned in this Resolution shall be granted a license upon completion of the requirements stated in the preliminary approval letter issued by the CMA. This shall amend the activity of the current license by cancelling the activity of “Securities Broker registered with an Exchange” and adding the activity of “Qualified Securities Broker registered with an Exchange”, and the registered persons’ job title shall be changed from “Representative of a Securities Broker registered with an Exchange” to “Representative of a Qualified Securities Broker registered with an Exchange”.
Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of issuance, and it shall be published in the Official Gazette.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 06/07/2025.
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