The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 50,000 ( Fifty Thousand Saudi Riyals) on Allianz Saudi Fransi Cooperative Insurance Company 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.