The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 50,000 (Fifty Thousand Saudi Riyals) on Riyad Bank due to its violation of clause (B) of Article (15) of the Corporate Governance Regulations. The ordinary general assembly, did not, upon a recommendation of the Board of Directors, issue the rules for the appointment of the members of the Nomination and Remuneration Committee, terms of office and the procedure to be followed by such committee.