Cancellation of the License Granted to Edraj Capital Company

The Board of the Capital Market Authority ("CMA") issued its resolution to cancel the license granted to "Edraj Capital" to conduct the activities of Arranging and Advising in the securities business.

The cancellation of the license granted to the company "Edraj Capital" by the CMA's Board came after it was proven that the company did not fulfill the 'fit and proper' requirements to carry out the securities business for which the company was licensed. At the same time, the Board emphasized that the integrity of the market and the protection of investors necessitate this action.

The CMA urges all participants in the financial market and investors not to deal with "Edraj Capital", emphasizing the importance of protecting the market from illegal financial practices, maintaining its integrity, and protecting its investors, which enhances the confidence of participants in the Saudi capital market.