Capital market authority suspends Sanad stock

07/09/2014 Argaam

Saudi Capital Market Authority (CMA) suspended today the trading of Sanad Cooperative Insurance stock as of today in response to another regulatory decision banning the company from issuing or renewing policies.

Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, had prevented the company from issuing or renewing policies till its financial position is rectified.

The suspension remains effective till the company announces the financial impact of SAMA’s decision on its business, CMA said.

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