Imposition of a Fine on Amana Cooperative Insurance Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 30,000 (Thirty Thousand Saudi Riyals) on Amana Cooperative Insurance Co. 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 on the Saudi Stock Exchange (Tadawul)'s website about receiving  a letter from The Council of Cooperative Health Insurance that included suspending the authority to issue individual insurance documents on the national network of health insurance system as of 11/13/2014. It was later announced on 16/11/2014.