CMA LAW: Announcement Regarding the Conclusion of the Hand Over Period of the Clients’ Funds and Assets to them or to the Party that is Responsible to Hold, Manage or Safe-Keep them for Al-Madina for Finance and Investment Company

The Capital Markets Authority (CMA) announces the conclusion of the hand over period of the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them for Al-Madina for Finance and Investment Company.

The conclusion of the period does not exempt Al-Madina for Finance and Investment Company , Saleh Nasser Saleh Al-Saleh –Vice of the Company’s Board of Directors, or the Company’s Board of Directors from any current or future legal responsibility related to the contracts signed with its clients or the process of handing over the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them before Al-Madina for Finance and Investment Company ’s clients or third parties.

The conclusion of the period, shall not be considered, at any form,  as an approval by the CMA, nor as basis for the validity of the process of handing over the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them, nor as a termination of the work of Al-Madina for Finance and Investment Company  with its clients or third parties.

Moreover, this conclusion of the period shall not be considered a discharge of the liability of Al-Madina for Finance and Investment Company, Saleh Nasser Saleh Al-Saleh –Vice Chairman of the Board of Directors, Board of Directors, Executive Management, or any person registered in a registered position or employment position at Al-Madina for Finance and Investment Company.