Under its resolution No. 8-33-2009, the CMA Board of Commissioners issued today Sunday 10/1/1431H corresponding to 27/12/2009 its decision to revoke the license granted to Talal Abo Ghazalah Financial Consulting Company based on the Capital Market Law issued by the Royal Decree No. (M/30) dated on 02/06/1424H, and the Authorized Persons Regulations issued by CMA Board of Commissioners on their Resolution No. 1-83-2005 dated on 21/5/1426H corresponding to 28/6/2005.

The CMA had authorized Talal Abo Ghazalah Financial Consulting Company to conduct Arranging and Advising in the securities business under resolution No. 9-38-2008 dated 26/11/1429H corresponding to 24/11/2008, with stipulated requirements and conditions to be satisfactorily fulfilled prior to commencing the business.

Talal Abo Ghazalah Financial Consulting Company has violated the Capital Market Law and its implementing regulations and has not fulfilled the requirements and conditions under resolution No. 9-38-2008 dated 26/11/1429H corresponding to 24/11/2008.