Imposition of a penalty

The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on Banque Saudi Fransi due to its violation of clause (A) of Article (46) of the Capital Market Law and Article (25) of the Listing Rules.

The bank failed to inform CMA about the change in its Board of Directors’ formation once it happened. It was announced on 25-10-2010