CmaBoardReleases
Title: Resolution No. (133) of 2016 Regarding Licensing the Investment Companies which Regularized their Situations Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments
Having Perused:
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and
- CMA Board of Commissioners Resolution passed in its meeting No. (42) of 2016 held on 14/12/2016.
The Following Was Resolved
Article (1)
Investment Companies mentioned in the table below, which regularized their situations pursuant to Law No. (7) of 2010 and its amendments, and CMA resolutions and regulations issued in this regard, are hereby licensed. The license term for the mentioned companies shall be three years starting from the date of issuing the CMA license certificate, and after paying the required fee when licensing the activities added to the company's objectives. The mentioned companies shall pay the fee when renewing the license for any other term(s) according to CMA's Law, resolutions, and regulations. The table below includes the activities it is licensed to practice according to this Article:
Company’s Name / Licensed Activities
1.Almanar Leasing & Financing Co.
- Investment Controller
2. Commercial Facilities Co.
- Investment Portfolio Manager
Article (2)
All companies mentioned in this Resolution shall comply with the transitional provisions mentioned in Appendix No. (3) of Resolution No. (72) of 2015 regarding the issuance of the Executive Bylaws of Law No. (7) of 2010 and its amendments.
Article (3)
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.
Dr. Nayef Falah Al-Hajraf
Issued on: 25/12/2016