Title: Resolution No. (101) of 2021 Regarding the License Application Submitted by Al-Waseet Financial Business Company to Practice Securities Activities
- 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
- Resolution No. (36) of 2021 Regarding the License Application Submitted by Al-Waseet Financial Business Company to Practice Securities Activities issued on 30/03/2021; and
- Based on the application submitted by Al-Waseet Financial Business Company to renew the preliminary approval issued by the CMA for a similar period; and
- Based on Resolution No. (63) of 2021 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 14/06/2021.
The Following Was Resolved
The preliminary approval granted to Al-Waseet Financial Business Company for licensing the activity of Securities Broker not registered with an Exchange is hereby renewed.
The approval is valid for six months starting from 30/09/2021 and ending on 29/03/2022 in order to meet the criteria specified by the CMA.
The Company mentioned in this Resolution shall be granted a license after completing the requirements mentioned in the preliminary approval letter issued by the CMA. The license will be valid for a renewable period of three years starting on the date of issuance of the CMA license certificate, and after the payment of the required fee.
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of issuance and it shall be published in the Official Gazette.
Head of Supervision Sector
Issued on: 05/09/2021