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FINANCIAL NEWS
Kuwait has new rules for invesment fund’s subsidiaries
19 Jul 2011
(MENAFN) Kuwait’s Capital Markets Authority (CMA) stated that the country’s investment funds have a deadline of March next year to specify ownership in financial securities, reported KUNA.
The regulator said that the decision and the deadline were given after studying the country’s economic status and as well as that of the Kuwaiti bourse.
The new rule prohibits and investment fund to own over a tenth of a single security.
It is worth noting that the country’s benchmark went down by 1.6 percent in response to the central bank governor’s comments saying that new regulations would take place in the market.
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