المملكة: "Financial market" A package of organizational improvements to investment funds in the Kingdom is adopted
I announced The Capital Market Authority , adopting a package of improvements to develop the organizational environment for investment funds in the Kingdom, by making adjustments to the list of investment funds and the list Investment funds real estate and the list of terminology used in the lists and rules of the Capital Market Authority. It contributes to the development of the investment funds sector and real estate investment funds, enhancing the level of transparency and disclosure of owners of the investment fund units, and achieving governance levels that ensure the promotion of the protection of investor rights. Investment funds, electronic money licensed companies from the Saudi Central Bank. The responsibilities of the fund management to the alternative manager within 60 days of the issuance of the authority’s approval of the withdrawal, in a way that contributes to protecting the rights of investors in public and private investment funds, and ensuring the smoothness of the transfer of responsibilities and work of the management of investment funds in a way that preserves the rights of units owners, and enhances the confidence of investors in the financial market. Parallel (growth), supporting diversification of its assets and increasing its flexibility in a manner that enhances its potential returns for investors, the amendments approved to allow it when establishing the fund included investing in real estate development projects without adhering to the proportions contained in the investment policy and restrictions on the assets stipulated in the list of real estate investment funds.
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