CMA LAW: Resolution No. (6) of 2016 Regarding Collective Investment Scheme License Granted for the Incorporation of KFH Capital Sukuk Fund of KFH Capital Investment Company

Having Perused:

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

- Based on the request of KFH Capital Investment Company to incorporate
KFH Capital Sukuk Fund in the State of Kuwait; and

- The memorandum and articles of association of KFH Capital Investment
Company; and

- The articles of association, prospectus and agreements of the administrative
services providers of KFH Capital Sukuk Fund; and

- Based on CMA Board of Commissioners Resolution passed in its meeting No. 4/2016 held on 31/1/2016.

The Following Was Resolved

Article (1) KFH Capital Investment Company is hereby granted the approval to incorporate KFH Capital Sukuk Fund. The Fund's units shall be offered for Private Placement in avariable capital ranging from $18,000,000/- distributed on 1,800,000/- units, up to $500,000,000/- distributed on 50,000,000 units. The nominal value is $10/- per unit.
The minimum subscription limit in the Fund for each subscriber is KD 100,000/- or the equivalent in USD.

Article (2) A total of 47,500,000/- units, which equals $475,000,000/- shall be offered for subscription. The subscription applications receiving parties are as follows:

- KFH Capital Investment Company

- Kuwait Finance House (KFH)

Article (3) The objectives of the Collective Investment Scheme are based on the prospectus provisions.

Article (4) The license term is 21calendar years, starting from the date of its registration in CMA's investment funds' register renewable for other similar terms pursuant to a
decision by the Fund's manager, if he is not informed by the subscribers who own more than 50% of the units of their unwillingness of renewal, three months prior to the end of the Fund's original period or the renewed one, and after obtaining the CMA's approval.

Article (5) The Fund is granted a license for three months to complete the minimum capital of the Fund and to issue the equities, which are renewable for similar terms in case the minimum capital is not covered.

Article (6) The Fund is licensed after completing the minimum capital for three years starting from the date of its registration in CMA's register.

Article (7) 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, CMA Board of Commissioners
Issued on: 10/2/2016

Copy of the Official Document

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.