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 Emaar The Economic City due to it’s violation of clause (C) of Article (45) of the Capital Market Law. The company revealed secret information related to the company’s intention to collect Billion Saudi Riyals from the banks until 2016 to finance some of the investments at King Abdullah Economic City and its intention to invest around 13 billion Saudi Riyals in investments in the coming three years, all that before informing CMA and announcing it to the public.
