CMA LAW: Resolution No. (21) of 2014 of the Capital Markets Authority Regarding Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for Asia Islamic Trade Finance Fund Ltd

Resolution No. (21) of 2014

of the Capital Markets Authority

Regarding

Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for Asia Islamic Trade Finance Fund Ltd

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 Kuwait China Investment Company (Kuwaiti Shareholding Company), and the agreement between Asia Asset Management (Cayman) Limited, which is the investment manager, and Kuwait China Investment Company, which is the marketing manager; and
• The request of Kuwait China Investment Company on 8/5/2014 to conduct the private marketing for Asia Islamic Trade Finance Fund Ltd inside the State of Kuwait; and
• The CMA Board of Commissioners' Resolution No. (6) of 2013 passed in its meeting No. (4) of 2013 held on 13/3/2013 regarding delegating some jurisdictions of the Markets Regulation Sector;

The Following Was Resolved

Article (1):

Kuwait China Investment Company (Kuwaiti Shareholding Company) shall be licensed to market 1.000.000 units from Asia Islamic Trade Finance Fund Ltd  as a private marketing inside the State of Kuwait, which is in the price of USD 100 (one hundred US Dollars) per unit, and the minimum limit for subscription is KD 100.000 (one hundred thousand Kuwaiti Dinars only).

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 publication in the Official Gazette.

  Mishaal M. Al-Usaimi

Capital Markets Authority

Issued on 7 / 7 / 2014

pdf copy

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