CmaBoardReleases
Title: Resolution No. (75) of 2015 Regarding 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
Having Perused:
- 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
- Article (2) of Resolution No. (18) and Resolution No. (19) of 2015 of CMA Board of Commissioners 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;
- CMA Board of Commissioners Resolution passed in its meeting No. (38) of 2015 held on 15/11/2015.
The Following Was Resolved
Article (1): The investment companies listed below, which regularized their situations pursuant to Law No. (7) of 2010 and its Executive Bylaws, in addition to the CMA's resolutions and regulations issued in this regard, are hereby licensed. The term of the license granted to the mentioned companies is three years starting from the date of issuing the license certificate, and after paying the required fee when licensing the activities added to the company's purposes.
The mentioned companies shall pay the fee when renewing the license for any other term pursuant to the CMA's Law and its Executive CMA Data Classification: Public 2 Bylaws, and CMA's resolutions and regulations issued in this regard. The following table includes the licensed companies and the activities they are licensed to practice according to this Article: S/N Company Name Licensed Activity 1 First Investment Company
- Investment Controller 2 Aref Investment Group Company
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. 3 Boubyan Capital Investment Company
- A securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Investment Controller.
- Subscription Agent. 4 Ahli Capital Investment Company
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Investment Controller.
- Subscription Agent.
Article (2): The initial approval for the below mentioned companies is hereby renewed for final and nonrenewable six months in order to complete the legal procedures of amending the Memorandum and Articles of Association by adding the required activities, which the company is permitted to practice, to be part of the purposes of its establishment, or CMA Data Classification: Public 3 to meet specified standards. The following table includes the companies that are granted initial approval and the activities they are permitted to practice according to this Article: S/N Company Name Activities Granted Initial Approval 1 Al-Aman Investment Company
- A securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Investment Controller.
- Subscription Agent. 2 Aref Investment Group Company
- Custodian. 3 Mena Investment Company
- Investment Portfolio Manager. 4 Murabahat Investment Company
- Investment Controller. 5 Farabi Investment Company
- Investment Advisor.
- Investment Portfolio Manager.
- Subscription Agent. 6 The Securities House Company
- Investment Controller.
- Subscription Agent. 7 Dimah Capital Investment Company
- A securities broker who is not registered in the Securities Exchange.
- Investment Advisor
. - Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. 8 Kuwait Finance House Investment Company
- Collective Investment Scheme Manager. CMA Data Classification: Public 4 9 International Investment Group Company
- Investment Advisor.
- Investment Portfolio Manager.
- Subscription Agent. 10 Cap Corp Investment Company
- Investment Controller. 11 AlSafat Investment Company
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager
- Investment Controller.
- Subscription Agent. 12 Al-Masar Leasing & Investment Company
- A securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Investment Controller.
- Custodian.
- Subscription Agent. 13 Massaleh Investments Company - Investment Portfolio Manager. 14 AMWAL International Investment Company
- A securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Subscription Agent. 15 National Leasing and Financing Company - A securities broker who is not registered in the Securities Exchange. CMA Data Classification:
Public 5 Article (3): The companies mentioned in Article (2) of this Resolution are hereby licensed after completing the requirements mentioned in the initial approval letter issued by the CMA for three renewable years from the date of issuing the CMA's license certificate, and after paying the required fee when licensing the activities added to the company's purposes. The mentioned companies shall pay the fee when renewing the license for any other term, as per the Law and its Executive Bylaws, in addition to the CMA's resolutions and regulations.
Article (4): The concerned bodies shall execute this Resolution, each within its own jurisdiction. This Resolution shall come into force from the date of its issuance, and shall be published in the Official Gazette. Dr. Nayef Falah Al-Hajraf Issued on 22/11/2015