The Kuwait Capital Markets Authority has restricted the securities activities licence of Al Masaleh Investment Company for collective investment scheme manager and subscription agent activities. The firm may continue providing services only to existing clients and is prohibited from accepting new clients or establishing or marketing new collective investment schemes until it addresses material reservations in the external auditor’s report for the financial year ended 31 December 2025 and submits financial statements that reflect its financial position, ability to continue as a going concern, operating profitability and improved future cash flows by 31 March 2027. The company must put in place procedures to ensure existing clients can recover their funds and assets from the licensed person if they request to do so. It must also prepare and submit a plan to remedy the causes of the restriction in line with article 1-14-1 of Book 5 on securities activities and registered persons under the executive regulations to Law No. 7 of 2010, while continuing to meet all legal obligations under that law and its regulations. The decision took effect from the date of issuance and will be published in the Official Gazette.
Kuwait Capital Markets Authority 2026-04-30
Kuwait Capital Markets Authority restricts Al Masaleh Investment Company securities activities to existing clients until 31 March 2027
The Kuwait Capital Markets Authority has restricted the securities activities licence of Al Masaleh Investment Company for collective investment scheme manager and subscription agent activities, limiting it to servicing existing clients only and prohibiting new clients or new schemes. The firm must ensure existing clients can recover their funds and assets on request, submit a remediation plan under article 1-14-1 of Book 5 of the executive regulations, and provide updated financial statements demonstrating going concern, profitability and improved cash flows.