Title: Resolution No. (90) of 2021 Regarding Cancelling the Securities Activities License of Amwal International Investment Company and Removing it from the Licensed Persons Register at the CMA
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and their amendments; and
- The application submitted by Amwal International Investment Company to cancel all securities activities and remove its name from the licensed persons register at the CMA; and
- The decision of the Extraordinary General Assembly of Amwal International Investment Company held on July 08, 2021 approving the amendment of the objectives for which the Company was established in accordance with the provisions of Commercial Companies Law No. (15) of 1960 and the noting the aforementioned at the Commercial Registry Department at the Ministry of Commerce and Industry on August 11, 2021;
- Based on Resolution No. (63) of 2021 regarding amending the authorizations for the Supervision Sector’s procedures issued on 14/06/2021.
The Following Was Resolved:
The license of all securities activities granted Amwal International Investment Company is hereby cancelled, and it shall be removed from the licensed persons register at the CMA.
The Company shall fulfill all the legal obligations pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and their amendments, for the period prior to the enforcement of this Resolution.
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.
Head of Supervision Sector
Issued on: 16/08/2021