​As part of the Capital Market Authority's efforts to develop the capital market in the kingdom of Saudi Arabia, and regulate and monitor the work and activities of entities subject to its supervision and control through the issuance of implementing regulations and rules governing the Saudi market, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, the CMA Board has issued its Resolution that includes the following:

a) The adoption of the amended Investment Funds Regulations (the Regulations).

b) the Regulations shall be published, and shall become effective from the date of 02/06/1438H corresponding to 06/11/2016G.

c) The current investment funds Regulations issued by the CMA Board of Commissioner`s resolution number (1-219-2006) dated 12/3/1427H corresponding to 24/12/2006G will continue to be effective until the effective date of the Regulations referred to in paragraph (b) above.

d) The adoption of the amended Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority (the Glossary).

e) The Glossary shall be published, and shall become effective from the date of 02/06/1438H corresponding to 06/11/2016G. The current Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority amended by Resolution of the Board of the Capital Market Authority number (3-58-2014) dated 17/1/1436H Corresponding to 10/11/2014G will continue to be effective until the effective date of the Regulations referred to in paragraph (b) above.

f) Exception to what is stated in paragraph (b) above, the provisions of paragraphs (h) and (i) of Article (17) of the Regulations shall not become effective before 15/7/1439H Corresponding to 1/4/2018G.

g) Exception to what is stated in paragraph (b) above, the provisions paragraph (a) and (b) of Article 23, paragraph (b) of Article 54, Article 55, paragraph (d) of Article 76 and paragraph (c) of Article 93 of the Regulations shall not become effective on the existing investment funds before 15/7/1439H Corresponding to 1/4/2018G.

h) Exception to what is stated in paragraph (b) above, the provisions of Article 48 of the Regulations of investment funds shall not become effective before 7/10/1438H Corresponding to 1/7/2017G.

The purpose of these Regulations is to regulate the establishment, registration, offering and management of investment funds and associated activities in the Kingdom. When modifying the regulation, international best practices and standards have been taken into consideration in order to achieve the desired goals, as well as concerned and interested parties comments and observations.
The Regulations can be viewed on CMA’s website via the following link:

The adoption of the amended Investment Funds Regulations.

The adoption of the amended Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority