Title: Resolution No. (12) of 2015 Regarding a Private Marketing License of a Foreign Collective Investment Scheme Granted to KFH Capital Investment Company (Closed Kuwaiti Shareholding Company) for Baitk Alwaed Saudi Equity Fund

Having Perused:

- Law No. (7) of 2010 regarding the "Establishment of the Capital Markets Authority and Regulating the Securities' Activity", and its Executive Bylaw; and

- The Memorandum and the Articles of Association of KFH Capital Investment Company (Closed Kuwaiti Shareholding Company), and the agreement between the investment manager of Saudi Kuwaiti Finance House and the marketing manager in KFH Capital Investment Company (Closed Kuwaiti Shareholding Company); and

- Based on the request of KFH Capital Investment Company (Kuwaiti Shareholding Company) on 9/12/2014 to conduct the private marketing for Baitk Alwaed Saudi Equity Fund in the State of Kuwait; and

- Based on the approval of the Central Bank of Kuwait on 11/2/2015; and

- Based on the Capital Markets Authority Board of Commissioners' Resolution No. (60) of 2014 regarding delegating some jurisdictions of the Supervision Sector;

The Following Was Resolved

Article (1): KFH Capital Investment Company (Closed Kuwaiti Shareholding Company) is hereby licensed to market 50,000,000/- units of Baitk Alwaed Saudi Equity Fund as a private marketing inside the State of Kuwait, which is established in the Kingdom of Saudi Arabia. The offer price during the subscription period shall be according to the CMA Data Classification: Public 2 nominal value which is SR 10/- per unit, in addition to 2% subscription commission. When the subscription period ends, the offer price shall be according to the net asset value of the fund, in addition to 2% subscription commission with a minimum subscription in the Fund totaling KD 100,000 or the equivalent. The subscription applications receiving parties shall be: - KFH Capital Investment Company (Closed Kuwaiti Shareholding Company) - Kuwait Finance House (Kuwaiti Shareholding Company)

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

Article (3): The license term is one year renewable annually after paying the required fees.

Article (4): 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.