The Kuwait Capital Markets Authority announced that the initial approval period for Kafio Financial Brokerage Company’s application to practice securities activities has expired, with the application treated as if it had not been submitted as of 29 September 2025. The initial approval had been granted on 30 March 2025 under Resolution No. 49 of 2025. The outcome follows Article 1-7 of Module V (Securities Activities and Registered Persons) of the Executive Bylaws to Law No. 7 of 2010, which provides that where an applicant fails to submit required documents and information within the authority’s specified timeframe without an excuse acceptable to the authority, the application is considered non-existent.
Kuwait Capital Markets Authority 2025-09-30
Kuwait Capital Markets Authority treats Kafio Financial Brokerage’s securities activities licence application as void after initial approval period expires
The Kuwait Capital Markets Authority announced that the initial approval for Kafio Financial Brokerage Company's securities activities application has expired, rendering the application non-existent as of 29 September 2025. This follows Article 1-7 of Module V of the Executive Bylaws to Law No. 7 of 2010, due to the applicant's failure to submit required documents within the specified timeframe.