CmaBoardReleases
Title: Resolution No. (78) 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 Amendments
Having Perused:
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- Article (2) of Resolution No. (20) of 2016 on 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; and
- CMA Board of Commissioners Resolution passed in its meeting No. (29) of 2016 held on 30/8/2016.
The Following Was Resolved
Article (1)
AMWAL International Investment Company, which regularized its situations pursuant to the provisions of Law No. (7) of 2010 and its amendments and the CMA’s resolutions and regulations issued in this regard, is hereby licensed. The license term for the mentioned company is three years starting from the issue date of the CMA license certificate, after paying the required fee when licensing the activities added the company’s objectives. The mentioned company shall pay the fee when renewing the license for any other term(s) pursuant to the Law, its Executive Bylaws and the CMA’s resolutions and regulations. The activities that the company is licensed to practice according to this Article are as follows:
- Investment Controller
- Investment Portfolio Manager
Article (2)
The company mentioned in this Resolution shall comply with transitional provisions mentioned in Appendix (3) of Resolution No. (72) 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 issuance. It shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 6/9/2016