CMA to impose a penalty on SAAB Takaful

The Capital Markets Authority (CMA) has fined SABB Takaful 40 000 SAR (10 700 USD) following the company's failure to disclose the resignation of a board member, Ian Keith Moore, on the stock exchange's website (Tadawul).

In accordance with the local law, listed companies shall immediately and without delay discose such events to the market authority and to the general public. SAAB Takaful is 65% owned by the Saudi British Bank (SABB).

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