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Title: Resolution No. (28) of 2019 Regarding the License Application Submitted by Kuwait & Middle East Financial Investment Company to Practice Securities Activities 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
Date Publish 19 February 2019


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

- Resolution No. (110) of 2018 issued on 09/08/2018 Regarding the License Application Submitted by Kuwait & Middle East Financial Investment Company to Practice Securities Activities 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

- The application submitted by Kuwait & Middle East Financial Investment Company dated 06/02/2019 to renew the preliminary approval issued by the CMA for a similar period; 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)
The preliminary approval granted to Kuwait & Middle East Financial Investment Company is hereby renewed for licensing the activity of custodian. The approval is valid for six months starting from 13/02/2019 and ending on 12/08/2019, in order meet the criteria specified by the CMA.

Article (2) 
Kuwait & Middle East Financial Investment Company will be 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: 18/02/2019

Copy of the Official Document

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