The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 100.000 ( One Hundred Thousand Saudi Riyals)  on Al-Rajhi Company for Cooperative Insurance due to it’s violation of clause (B) of Article (14) of the Corporate Governance Regulations. The general assembly, based on a proposal by the Board of directors, did not issue the rules for selecting the members of the Audit committee, the duration of their membership and the committee’s work method.