Imposition of a Fine on Al-Ahlia 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 Al-Ahlia Insurance Co. due to its violation of paragraph (A) of Article (46) of the Capital Market Law and paragraph (A) of Article (41) of the Listing Rules. The company failed to inform CMA and the public in a timely manner  about signing an insurance contract  on 09/07/2015 with Seder Group Trading & Contracting Company for the Medical Insurance product ( related party). It was later announced on 02/08/2015.