Imposition of a penalty

The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on Al-Rajhi Company for Cooperative Insurance due to its violation of clause (A) of Article (46) of the Capital Market Law and Article (25) of the Listing Rules.

The company failed to announce and inform CMA that it got the final approval from the Saudi Arabian Monetary Agency (SAMA) on the product of Funds Insurance and Engineering Insurance products which was later announced on 28/11/2010.