Imposition of a Penalty on SABB Takaful

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR10,000 (Ten Thousand Saudi Riyals) on the SABB Takaful due to its violation of clause (B) of the General Instructions that must taken into account by companies when  publishing their announcements. The company failed to inform CMA and the public in a timely manner about the results of the session held on 31/03/2014 which was related to the developments on Inmaia Property Development & Investment Company’s claim. It was later announced on 01/04/2014 after the market close.