CmaBoardReleases
Back to Search
CMA LAW: Resolution No. (101) of 2016 Regarding Licensing Investment Funds that Regularized its Situations
Date Publish
27 October 2016
Having Perused:
- 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. (35) of 2016 held on 19/10/2016.
The Following Was Resolved
Article (1)
The five investment funds mentioned in the table below, which regularized their situations pursuant to Law No. 7 of 2010 and its Executive Bylaws, and their amendments, and CMA resolutions and regulations issued in this regard, are hereby licensed.
1. Al Awaed Investment Fund
2. AL- Raed Investment Fund
3. AL- Hilal Islamic Fund
4. AL- Atheer Communicaions Fund
5. Kuwait Investment Fund
Article (2)
The license term for the funds mentioned in Article (1) of this Resolution is three years starting from the registration date in the CMA register. The mentioned funds are exempted from the initial fees for such period. The funds shall pay the fee when renewing the license for any other term(s) pursuant to the CMA’s resolutions and regulations
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, it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 27/10/2016
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
