CMA LAW: Announcement Regarding Expiration of the Preliminary Approval Period for the Licensing Application Submitted by Rasmeel Investment Company

The Capital Markets Authority (CMA) announces the expiration of the preliminary approval period granted to Rasmeel Investment Company on 16/04/2025 to license the activity of Securities Broker not registered with an Exchange pursuant to Resolution No. (60) of 2025 Regarding the License Application Submitted by Rasmeel Investment Company to Practice Securities Activities issued on 16/04/2025.

Accordingly, the request of the securities activities license submitted by Rasmeel Investment Company is considered null and void as of the expiry date of the preliminary approval on 15/10/2025 in accordance with the provision of Article 1-7 of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments which stipulates:

“… If the applicant fails to submit the required information and documents within the period stipulated in writing by the Authority without an excuse acceptable to the Authority, the application shall be deemed to have been withdrawn.”

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