CMA LAW: Resolution No. (3) of 2016 Regarding Private Marketing License of a Foreign Collective Investment Scheme Granted to NBK Capital for Islamic Equipment Leasing Fund VI Ltd

Having Perused: 

- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments, and its Executive Bylaws; and

- The Memorandum and Articles of Association of NBK Capital, and the agreement between the investment manager (WCP Investment LP) and the marketing manager (NBK Capital); and

- Based on the request of NBK Capital on 2/12/2015 to conduct a private marketing for Islamic Equipment Leasing Fund VI Ltd in the State of Kuwait; and

- Based on CMA Board of Commissioners Resolution No. (44) of 2015 passed in its meeting No. (18) of 2015 held on 3/6/2015 on delegating a number of Supervision Sector's competences.

The Following Was Resolved 

Article (1) NBK Capital is hereby licensed to market a total of 11,000,000 units of Islamic Equipment Leasing Fund VI Ltd as a private marketing inside the State of Kuwait. It is incorporated in the Cayman Islands. The offering price is USD 10/- per unit, in addition to 2.25% subscription fee per unit. The minimum subscription limit is USD 380,000. The subscription applications receiving parties are as follows: - NBK Capital - National Bank of Kuwait - Boubyan Bank CMA Data Classification:

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

Article (3) The license term is one year renewable annually from the issuance date of CMA's license, and after paying the assigned 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. Mohammed Sulaiman Al-Marzouq Head of Supervision Sector 

Copy of the Official Document

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