CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (01/2026 Disciplinary Board) (95/2025 Authority), and imposition of a fine against: 1) Chairman of the Board of Directors of Bayan Investment Holding Company, 2) Vice Chairman of the Company, 3) Board Members (2 Members), 4) Member of the Company’s Internal Audit Committee, 5) Board Member and Member of the Company’s Internal Audit Committee (formerly), for violating the rules of Corporate Governance

Announcement regarding issuance of Disciplinary Board Resolution No. (01/2026 Disciplinary Board) (95/2025 Authority), and imposition of a fine against: 1) Chairman of the Board of Directors of Bayan Investment Holding Company, 2) Vice Chairman of the Company, 3) Board Members (2 Members), 4) Member of the Company’s Internal Audit Committee, 5) Board Member and Member of the Company’s Internal Audit Committee (formerly), for violating the rules of Corporate Governance.

For the following reasons:

They violated the provision of Item (18/a) of Article (3-7) of Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. It was proven to the CMA that they failed to carry out their regulatory material responsibilities as well as ensuring the efficiency and sufficiency of the internal audit, financial, and accounting systems applied at a company (subsidiary of the subsidiary in 100%) during the period in which the position of Mr. …. as the Chief Financial Officer of the company subject of inspection coincided with his position as Vice Chairman of the Board of Directors and the Managing Director of the subsidiary company, which revealed a serious breach of the supervision and follow-up obligation and led to impactful financial violations that form serious administrative and financial negligence.

The Resolution included the infliction of the following penalty: -

“First: Levying a fine on each of:

1. Chairman of the Board of Directors of Bayan Investment Holding Company.
2. Member of the Board of Directors of Bayan Investment Holding Company.

in an amount of KWD 5,000 (five thousand Dinars) on each one of them for the attributed violation.

Second: Levying a fine on each of:

1. Vice Chairman of the Board of Directors and Chairman of the Company’s Internal Audit Committee.
2. Member of the Board of Directors and Member of the Company’s Internal Audit Committee.
3. Member of the Board of Directors (formerly) and Member of the Company’s Internal Audit Committee (formerly)

in an amount of KWD 6,000 (six thousand Dinars) on each one of them for the attributed violations.

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws on all persons dealing in securities activities, and urges them to comply with these rules in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.

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.