Violations of listed PJSCs in financial markets

Violations of listed PJSCs in financial markets

No Viloator Name Description of Violation Decision/Penalty Decision Date Publish Date
1Al Khazna Insurance Company
Failure to disclose financial statements for the first quarter of 2023 within the specified statutory period through the standard way and the XBRL format, which violates Article (36/7/b) of the SCA Board’s Decision No. (3) of 2000 Regulating Transparency and Disclosures and Article (2) of the SCA Board Chairman’s Decision No. (12/Chairman) of 2018 Regulating XBRL Disclosures.
Imposing a fine of (80,000) dirhams
12/09/202309/11/2023
2Invest Bank
Failure to disclose financial statements for the first quarter of 2023 within the specified statutory period through the standard way and the XBRL format, which violates Article (36/7/b) of the SCA Board’s Decision No. (3) of 2000 Regulating Transparency and Disclosures and Article (2) of the SCA Board Chairman’s Decision No. (12/Chairman) of 2018 Regulating XBRL Disclosures.
Imposing a fine of (100,000) dirhams
12/09/202309/11/2023



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