Ruling on class action against Weqaya’s violators enhances confidence in capital market: ElKuwaiz

16/04/2023 ِArgaam

Ruling on class action against Weqaya’s violators enhances confidence in capital market: ElKuwaiz

Chairman of the Capital Makret Authority (CMA), Mohammed ElKuwaiz

Chairman of the Capital Makret Authority (CMA), Mohammed ElKuwaiz, said the latest appeal resolution issued on the class action filed against violators in Weqaya Takaful Insurance and Reinsurance Co. enhances confidence in the capital market.

 

Personal rights are as important as public rights. Investors should be compensated and should receive their rights in full, he added in tweet.

 

Last week, the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued a resolution ordering some members of the board of directors and employees in Weqaya jointly to pay the claimants an amount of SAR 19.5 million in the class action lawsuit submitted by an investor (main claimant), Argaam reported.

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