​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 The Saudi Investment Bank 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 bank failed to inform CMA and the public in a timely manner about its Board of Directors decision on 01/07/2014 to assign Mr. Mohammad Abdullah AlAli as an independent member at the Board of Directors. It was later announced on 02/07/2014 after the market close.