CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (26/2025 Disciplinary Board) (56/2025 Authority) and imposition of a fine against: Kuwait Business Town Real Estate Company for violating the Rules of Disclosure and Transparency.

Announcement regarding issuance of Disciplinary Board Resolution No. (26/2025 Disciplinary Board) (56/2025 Authority) and imposition of a fine against: Kuwait Business Town Real Estate Company for violating the Rules of Disclosure and Transparency.

For the following reasons:
Violation of the provision of Item (3) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The Company failed to disclose at Boursa Kuwait Securities Exchange the material information that requires disclosure, represented by its investment and ownership of bank bonds in the amount of KWD 10,000,000 (ten million Kuwaiti Dinars only) on 9/5/2024 for five years, due on May 9, 2029, and divided into two tranches, each tranche values KWD 5,000,000 (five million Kuwaiti Dinars only), one of which is with fixed interest and the other one is with a variable interest to date.

The Resolution included the infliction of the following penalty: -
“Levying a fine on Kuwait Business Town Real Estate Company in an amount of KWD 10,000 (ten thousand Dinars) for the attributed violation.”

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws on all persons dealing in securities activities, and urges them to comply with these Laws in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.