CmaBoardReleases
Title: Resolution No. (141) of 2017 Regarding Renewal of the Collective Investment Scheme License of Markaz Gulf Real Estate Fund
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;
- The collective investment scheme license certificate of Markaz Gulf Real Estate Fund No. F/2014/0044 issued on 23/10/2014; and
- Based on CMA Board of Commissioners Resolution No. (31) of 2014 regarding the collective investment scheme license granted to Kuwait Financial Centre - Markaz for the establishment of Markaz Gulf Real Estate Fund; and
- Based on the application submitted by Kuwait Financial Centre – Markaz to renew the license of Markaz Gulf Real Estate Fund; and
- Based on CMA Board of Commissioners Resolution No. (44) of 2015 passed in its meeting No. (18) of 2015 held on 03/06/2015 on delegating some of the Supervision Sector’s competences; and
- Based on CMA Board of Commissioners Resolution No. (7-17) of 2017 passed in its meeting No. (17/2017) held on 25/04/2017 on appointing a deputy for the head of Supervision Sector in case of his absence and authorizing him of the same competences of the head of the Supervision Sector mentioned in Resolution No. (44) of 2015.
The Following Was Resolved
Article (1)
The collective investment scheme license of Markaz Gulf Real Estate Fund is hereby renewed for three years, renewable after paying the prescribed fees.
Article (2)
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.
Mubarak Alrefaei
Acting Head of Supervision Sector
Issued on: 17/10/2017