Saudi CMA imposes SAR 100,000 fine on Arab National Bank

03/05/2017 Argaam

Saudi Arabia’s Capital Market Authority (CMA) has fined Arab National Bank (ANB) SAR 100,000 for violating the corporate law, the regulator said in a statement to Tadawul Wednesday.

 

The bank failed to obtain a prior license from its general assembly meeting to sign two insurance contracts with MetLife AIG ANB Cooperative Insurance Co., a related party, in February 2017.

 

The insurer is 29.94 percent-owned by Arab National Bank. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.