The Capital Market Authority announces the issuance of a CMA Board resolution numbered (6-13-2011) and dated 20/5/1432H corresponding to 24/04/2011 to impose 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 as well as clause (A) and sub-clause (5) of  Article (25) of the Listing Rules.

The company failed to inform CMA of the change in its senior management once it happened. It was later announced on 15/02/2011.