The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 10,000 (Ten Thousand Saudi Riyals) on Allianz Saudi Fransi Cooperative Insurance Company, due to its violation of clause (A) of Article (46) of the Capital Market Law and clause (A) of Article (41) of the Listing Rules. The company failed to inform CMA and the public about obtaining a permit renewal of SAMA on 01.01.2014 AD, to practice insurance activity in the following sections (general insurance, health insurance, protection and savings). It was later announced on 02/ 01/2014 AD after the market was closed.