By: Ahmed Awad
Kuwait - Mubasher: The Kuwaiti Capital Market Authority (CMA) announced on Monday the expiration of the time limit given for brokerage companies for coping with the new CMA law.
Three companies will be suspended, Al-Arabi, Al-Robaeya, and Al-Watanya, since they didn’t get the authority’s approval to increase the capital, according to CMA chairman Nayef Al-Hajraf.
The companies suspension will start on Sunday for a six-month period, then the companies licenses will be cancelled in case of not meeting the CMA requirements concerning the minimum capital, Al-Hajraf added.
On the other hand four companies have met the minimum capital requirements, led by Oula Wasata, KIC, and Al Watani, while another 7 companies have applied for capital hike or merger.
Translated by: Moslem Ali
