Title: Resolution No. (111) of 2019 Regarding the License Application Submitted by Gulf Custody Company to Practice Securities Activities Pursuant to Law No. (7) of 2010 on 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 Executive Bylaws and their amendments; and

- The securities activities license application submitted by Gulf Custody Company; and

- Resolution No. (149) of 2018 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 25/11/2018.  

The Following Was Resolved

Article (1)
Gulf Custody Company is hereby granted a preliminary approval by the CMA for licensing the activity of Custodian.
The license is valid for six renewable months starting from 04/07/2019 and ending on 02/01/2020 to meet the criteria specified by the CMA.

Article (2) 
The Company mentioned in this Resolution is granted a license after completing the requirements mentioned in the preliminary approval letter issued by the CMA. The CMA license certificate will have a validity of three years starting on the date of issuance, after paying the required fee upon licensing.

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. 

Zeyad Al-Fulaij 
Head of Supervision Sector

Issued on: 04/07/2019

Copy of the Official Document