CMA LAW: Resolution No. (32) of 2016 Regarding Regularizing the Situations of Investment Companies Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments

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Having Perused:

- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and

- Resolution No. (75) on licensing the investment companies which regularized their situations pursuant to Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and  

- CMA Board of Commissioners Resolution passed in its meeting No. (13) of 2016 held on 13/4/2016.

The Following Was Resolved

Article (1) 
The investment companies listed below, which regularized their situations pursuant to Law No. (7) of 2010 and its amendments, and CMA resolutions and regulations issued in this regard, are hereby licensed. The license term for the mentioned companies shall be three years starting from the date of issuing the CMA license certificate, and after paying the required fee when licensing the activities added to the company's objectives. The mentioned companies shall pay the fee when renewing the license for any other term (s) according to CMA's Law, resolutions, and regulations. The table below includes the companies and the activities they are licensed to practice according to this Article:  

Sr.	Company Name	Licensed Activity
1	Aref Investment Group Company	Custodian.
2	The Securities House Company	Investment Controller. Subscription Agent.
3	Dimah Capital Investment Company	Securities Broker not registered in the Securities Exchange. Investment Advisor. Investment Portfolio Manager. Collective Investment Scheme Manager. Subscription Agent.
4	Cap Corp Investment Company	Investment Controller.
5	Massaleh Investments Company	Investment Portfolio Manager.
6	AlSafat Investment Company	Investment Advisor. Investment Portfolio Manager. Collective Investment Scheme Manager. Investment Controller. Subscription Agent.
7	Al-Aman Investment Company	Investment Broker not registered in the Securities Exchange. Investment Advisor. Investment Portfolio Manager. Collective Investment Scheme Manager. Custodian. Investment Controller. Subscription Agent.
8	Al-Masar Leasing & Investment Company	Investment Broker not registered in the Securities Exchange. Investment Advisor. Investment Portfolio Manager. Collective Investment Scheme Manager. Custodian. Investment Controller. Subscription Agent.
9	National Leasing and Financing Company	Investment Broker not registered in the Securities Exchange.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Article (2)
The initial approval period for the companies mentioned below is hereby ended. It ended on 10/3/2016 and the companies did not regularize their situations regarding the securities activities. The companies shall guard the clients’ funds until they are handed to them, or for whoever is of relevance in respect of keeping and managing them for the activities mentioned below:

Sr.	Company Name	Securities Activities
1	Mena Investment Company	Investment Portfolio Manager.
2	Murabahat Investment Co	Investment Controller.
3	Farabi Investment Company	Investment Advisor. Investment Portfolio Manager. Subscription Agent.
4	Kuwait Finance House Investment Company	Collective Investment Scheme Manager.
5	International Investment Group Company	Investment Advisor. Investment Portfolio Manager. Subscription Agent.
6	AMWAL International Investment Company	Investment Broker not registered in the Securities Exchange. Investment Advisor. Collective Investment Scheme Manager. Custodian. Subscription Agent.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Article (3)
All companies mentioned in Article (1) of this Resolution shall comply with the transitional provisions mentioned in Appendix No. (3) of Resolution No. (72) of 2015 regarding the issuance of the Executive Bylaws of Law No. (7) of 2010 and its amendments.   

Article (4)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.

   
Dr. Nayef Falah Al-Hajraf
Chairman of the Board of Commissioners

Issued on: 20/4/2016        

       

Copy of the Official Document

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