Capital Market Authority approves launch of “Bait Al Mal Gulf Saudi Riyal Murabaha Fund”

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Riyadh - Mubasher: The Capital Market Authority (CMA) announced its decision approving Bait Al Mal Al Khaleeji Company to offer units of Bait Al Mal Al Khaleeji Saudi Riyal Murabaha Fund in a public offering.

The Authority said in a statement on Thursday that the decision to invest without reviewing the terms and conditions of the fund and studying their content may involve high risks. Therefore, the investor must review the terms and conditions of the fund, which contain detailed information about the fund, investment strategy and risk factors, and study them carefully to be able to assess the feasibility of the investment or not in light of the associated risks.

The Authority urged that it is preferable to refer to the Fund Manager for more information, if it is not possible to understand the contents of the terms and conditions.

The Authority stressed that its approval of the Fund’s offering should not be viewed as an endorsement of the feasibility of investing in the Fund, indicating that the Authority’s decision to approve the offering means that the regulatory requirements have been adhered to according to the Capital Market Law and its implementing regulations.

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