Imposition of a penalty


The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on the Saudi Re For Cooperative Reinsurance Co. (SAUDIRE) due to its violation of Article (25) of the Listing Rules.

The company failed to report the Board of Directors’ decision  to appoint a new member as soon as it occurred. However, it was announced on 18-07-2010.