CmaBoardReleases
Title: Resolution No. (120) of 2016 Regarding Revoking the Securities Activities License of Al-Dhow Investment Company and Removing it from Licensed Persons Register at the CMA
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
- Based on the request of Al-Dhow Investment Company to revoke all securities activities, and remove its name from licensed persons register at the CMA; and
- Based on the Extraordinary General Assembly of Al-Dhow Investment Company held on 06/11/2016 on the approval of amending the objectives of the Company’s establishment pursuant to Law No. (15) of 1960 on Issuance of the Commercial Companies Law, and notating the same in the Commercial Register Department in the Ministry of Commerce and Industry on 04/12/2016;
- Based on CMA Board of Commissioners Resolution No. (44) of 2015 passed in its meeting No. (18) of 2015 held on 3/6/2015 on delegating some competences of the Supervision Sector.
The Following Was Resolved
Article (1)
The securities activities license of Al-Dhow Investment Company is hereby revoked, and it is removed from the licensed persons register at the CMA.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. It shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
Mohammad Sulaiman Almarzouq
Head of Supervision Sector
Issued on: 11/12/2016