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Kuwait, 7 July 2014 – In line with its efforts to execute and implement the provisions of Law No. (7) of 2010 and its Executive Bylaw, and to lay down rules of the securities’ activity regulation and supervision, in addition to providing protection to participants in such activity, and after meeting the requirements of adjusting the situations of the investment funds in accordance with the Articles of the Executive Bylaw, and the resolutions and regulations of the Authority regarding this matter, the Authority has issued licenses for ten investment funds as a second group of the funds applying to the Authority to adjust their situations, and they are as follows:
1. Forsa Financial Fund
2. Kuwait Education Fund
3. Al Wasm Fund
4. Al Nokhba Fund
5. Al Dar Real Estate Fund
6. Al Dar Fund of Funds
7. Markaz Fixed Income Fund
8. Eammar and Estethmar Fund
9. Al Dar Money Market Fund
10. Al Safwa Investment Fund
Thus, the Authority considers executing the tasks of adjusting the situations of the investment funds according to the provisions of the Authority’s Law and its legislations to be an important step towards completing the adjustments of the rest of the investment funds within the allocated time as per the Authority’s regulations in this regard. Moreover, executing such tasks is a crucial step towards implementing the provisions of the Law of the establishment of the Authority and its Executive Bylaw and fulfilling its objectives, in particular the ones related to regulating the securities’ activity in a fair, competitive and transparent manner, reducing the expected systematic risks, and protecting traders and providing them with services according to the standards adopted by the Authority. The Authority would like to take this opportunity to encourage the investment funds applying for adjusting their situations to collaborate with the Authority in order to fulfill the requirements of the situations' adjustments pursuant to the provisions of the Authority’s Law and Executive Bylaw, in addition to the issued regulations and resolutions in this regard.
CMA LAW: Capital Markets Authority Issues Licenses for Ten Investment Funds
Date Publish
07 July 2014
Kuwait, 7 July 2014 – In line with its efforts to execute and implement the provisions of Law No. (7) of 2010 and its Executive Bylaw, and to lay down rules of the securities’ activity regulation and supervision, in addition to providing protection to participants in such activity, and after meeting the requirements of adjusting the situations of the investment funds in accordance with the Articles of the Executive Bylaw, and the resolutions and regulations of the Authority regarding this matter, the Authority has issued licenses for ten investment funds as a second group of the funds applying to the Authority to adjust their situations, and they are as follows:
1. Forsa Financial Fund
2. Kuwait Education Fund
3. Al Wasm Fund
4. Al Nokhba Fund
5. Al Dar Real Estate Fund
6. Al Dar Fund of Funds
7. Markaz Fixed Income Fund
8. Eammar and Estethmar Fund
9. Al Dar Money Market Fund
10. Al Safwa Investment Fund
Thus, the Authority considers executing the tasks of adjusting the situations of the investment funds according to the provisions of the Authority’s Law and its legislations to be an important step towards completing the adjustments of the rest of the investment funds within the allocated time as per the Authority’s regulations in this regard. Moreover, executing such tasks is a crucial step towards implementing the provisions of the Law of the establishment of the Authority and its Executive Bylaw and fulfilling its objectives, in particular the ones related to regulating the securities’ activity in a fair, competitive and transparent manner, reducing the expected systematic risks, and protecting traders and providing them with services according to the standards adopted by the Authority. The Authority would like to take this opportunity to encourage the investment funds applying for adjusting their situations to collaborate with the Authority in order to fulfill the requirements of the situations' adjustments pursuant to the provisions of the Authority’s Law and Executive Bylaw, in addition to the issued regulations and resolutions in this regard.
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