CmaBoardReleases
Title: Resolution No. (128) of 2021 Regarding Cancelation of the License and Liquidation of Kuwait Investment Opportunities 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; and
- Based on the Resolution of the Unit Holders Assembly of Kuwait Investment Opportunities Fund held on 26/10/2021 on the approval of liquidating the Fund and appointing Watani Investment Company (NBK Capital) as the Fund’s liquidator; and
- Resolution No. (63) of 2021 regarding the final approval of authorizations for the Supervision Sector’s procedures issued on 14/16/2021.
The Following Was Resolved
Article (1)
The license of Kuwait Investment Opportunities Fund of Watani Investment Company (NBK Capital) at the CMA is hereby cancelled.
Article (2)
Watani Investment Company (NBK Capital) is hereby appointed as the Fund’s Liquidator. The liquidator shall not proceed with the liquidation works unless the appointment thereof is officially announced.
Article (3)
Kuwait Investment Opportunities Fund shall be removed from the Fund’s Register at the CMA after completing the liquidation works.
Article (4)
the Fund’s Liquidator shall meet all the legal obligations set by Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments, for the period prior to the enforcement this resolution.
Article (5)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date it is published in the Official Gazette.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 11/11/2021