CMA LAW: Announcement Regarding Cancellation of Resolution No. (71) of 2023 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Watani Investment Company (NBK Capital) to Market the Shares of Leasing and Finance Fund 34 Ltd Company

Based on Resolution No. (71) of 2023 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Watani Investment Company (NBK Capital) to Market the Shares of Leasing and Finance Fund 
34 Ltd Company issued on 17/05/2023.
Watani Investment Company’s (NBK Capital) has reversed its decision and will not market the mentioned fund. It is not willing to pay the marketing fees included in Article (4) of the mentioned Resolution which stipulates “The prescribed fees shall be paid within one month from the date of issuance of this Resolution. In case of default, this Resolution shall be considered null and void.”
Accordingly, the CMA hereby announces cancellation of Resolution No. (71) of 2023 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Watani Investment Company (NBK Capital) to Market the Shares of Leasing and Finance Fund 34 Ltd Company.

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