The Kuwait Capital Markets Authority announced that the initial approval period for Rasameel Investment Company’s application to be licensed as a securities broker not registered on the ASE has expired, meaning the licence application is treated as if it did not exist from 15/10/2025. The initial approval had been granted on 16/04/2025 under Resolution No. (60) of 2025. The Authority cited Article 1-7 of Module V (Securities Activities and Registered Persons) of the Executive Bylaws to Law No. 7 of 2010, under which an application is deemed non-existent if the applicant fails to submit required documents and information within the specified period without an excuse acceptable to the Authority.
Kuwait Capital Markets Authority 2025-10-16
Kuwait Capital Markets Authority lets Rasameel Investment Company’s securities broker licence application lapse after initial approval period expires
The Kuwait Capital Markets Authority announced the expiration of Rasameel Investment Company's initial approval to be licensed as a securities broker not registered on the ASE, effective 15 October 2025. The application is now treated as non-existent due to the company's failure to submit required documents within the specified period, as per Article 1-7 of Module V of the Executive Bylaws to Law No. 7 of 2010.