Under its resolution No. 6-31-2009, the CMA Board of Commissioners issued today Sunday 27/11/1430H corresponding to 15/11/2009 its decision to revoke the license granted to Arabian Company for Securities Business based on the Capital Market Law issued by the Royal Decree No. (M/30) dated 02/06/1424H, and the Authorized Persons Regulations issued by CMA Board of Commissioners under  resolution No. 1-83-2005 dated 21/5/1426H corresponding to 28/6/2005.

The CMA authorized Arabian Company for Securities Business to conduct Dealing as Agent, Managing and Custody in the securities business under resolution No. 1-7-2007 dated 12/1/1428H corresponding to 31/1/2007 and subsequently suspended the license for six months under resolution No. 5-15-2009, dated 16/5/1430H corresponding to 11/5/2009.

In spite of the six months suspension, Arabian Company for Securities Business has not fulfilled all of the conditions and requirements stated in resolution No. 5-15-2009.