The Capital Market Authority the issuance of a CMA Board resolution to impose a fine of SR 80,000 (Eighty Thousand Saudi Riyals) on Saudi Indian Company for Cooperative Insurance (WAFA) due to its violation of paragraph (A) of Article (9) of the Corporate Governance Regulations. The Board of Director's Report for the Fiscal year 2014 did not include the implemented provisions of these Regulations as well as the provisions which have not been implemented, and the justifications for not implementing them.
