The Kuwait Capital Markets Authority published a Disciplinary Board resolution imposing a financial penalty on Kuwait Business City Real Estate Company for breaching disclosure and transparency requirements after it failed to disclose material information on Boursa Kuwait Stock Exchange. The breach related to Item (3) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010, as amended. The undisclosed information was the company’s investment on 9 May 2024 in bank bonds with a total value of KD 10,000,000 for five years maturing on 9 May 2029, split into two tranches of KD 5,000,000 each, one with fixed interest and the other with variable interest. The Disciplinary Board imposed a KD 10,000 penalty.
Kuwait Capital Markets Authority 2025-09-15
Kuwait Capital Markets Authority fines Kuwait Business City Real Estate Company KD 10,000 for failing to disclose KD 10 million bond investment
The Kuwait Capital Markets Authority imposed a KD 10,000 penalty on Kuwait Business City Real Estate Company for breaching disclosure and transparency requirements. The company failed to disclose a KD 10,000,000 investment in bank bonds on Boursa Kuwait Stock Exchange, violating Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010.