The Saudi Arabia Capital Markets Authority issued a board resolution imposing a SAR 10,000 fine on Amana Cooperative Insurance Co for violating Article 67 of the Rules on the Offer of Securities and Continuing Obligation. The breach relates to the company’s failure to provide the CMA with, and disclose to shareholders, its board of directors’ report for the financial year ended 31 December 2024 within the specified period, with disclosure only made on 7 April 2025.
Saudi Arabia Capital Markets Authority 2025-09-02
Saudi Arabia Capital Markets Authority imposes SAR 10,000 fine on Amana Cooperative Insurance Co for late board report disclosure
The Saudi Arabia Capital Markets Authority fined Amana Cooperative Insurance Co SAR 10,000 for breaching Article 67 of the Rules on the Offer of Securities and Continuing Obligation. The violation involved the company's delayed disclosure of its board of directors’ report for the financial year ended 31 December 2024, which was only made public on 7 April 2025.