Imposition of a Fine on Bank aljazira

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 100,000 (One Hundred Thousand Saudi Riyals) on Bank Aljazira due to its violation of clause (B) of Article (40) of the Listing Rules. The company was late to disclose to the public about signing the renewal of the group insurance on the bank's  personal finance portfolio with Aljazira Takaful Taawuni Co. in the amount of 16.9 Million riyals for one year AD . It was later announced only less than two hours before the market opend on 10/09/2015.