Saudi Arabia’s Capital Market Authority (CMA), the kingdom’s market regulator, has issued SAR 4.72 million ($1.3 million) in fines to 81 Tadawul-listed companies this year, a study conducted by Argaam Research showed.
A total of 102 penalties were accounted for between January and June 17, with some companies multiple fines.
In January, the regulator issued 23 fines in total, worth about SAR 870,000. June saw the highest value at SAR 1.58 million.
Sanad Insurance and Reinsurance Cooperative Co. was slapped with the heftiest single fine of SAR 700,000 during the month, accounting for 15 percent of total penalties.
Al-Ahsa Development came second with a penalty of SAR 260,000, or six percent of total penalties.
|
Total Fines Issued by Month |
||
|
Value (SAR) |
Number of fines |
Month |
|
870,000 |
23 |
Jan. |
|
540,000 |
13 |
Feb. |
|
450,000 |
21 |
March |
|
630,000 |
14 |
April |
|
650,000 |
13 |
May |
|
1,580,000 |
18 |
*June |
|
4,720,000 |
102 |
Total |
|
*As of June 17 |
||
|
Fined Companies |
||
|
Value (SAR) |
Number of fines |
Company |
|
820,000 |
2 |
Sanad Insurance |
|
280,000 |
2 |
Al-Ahsa Development |
|
190,000 |
3 |
|
|
180,000 |
2 |
|
|
140,000 |
3 |
|
|
140,000 |
1 |
|
|
140,000 |
1 |
|
|
120,000 |
2 |
|
|
120,000 |
2 |
|
|
120,000 |
1 |
|
|
120,000 |
2 |
|
|
120,000 |
2 |
|
|
100,000 |
1 |
|
|
100,000 |
1 |
|
|
100,000 |
1 |
|
|
100,000 |
1 |
|
|
100,000 |
1 |
|
|
90,000 |
1 |
|
|
80,000 |
2 |
|
|
70,000 |
1 |
|
|
70,000 |
3 |
|
|
70,000 |
1 |
|
|
60,000 |
1 |
|
|
60,000 |
2 |
|
|
40,000 |
2 |
|
|
40,000 |
1 |
|
|
40,000 |
1 |
Saudi Chemical Co. |
|
40,000 |
1 |
|
|
40,000 |
1 |
|
|
40,000 |
2 |
|
|
40,000 |
2 |
|
|
40,000 |
1 |
|
|
40,000 |
1 |
Tabuk Agricultural Development Co. |
|
40,000 |
1 |
Al Sagr Cooperative Insurance Co. |
|
30,000 |
1 |
|
|
30,000 |
1 |
|
|
30,000 |
2 |
Gulf Union Cooperative Insurance Co. |
|
30,000 |
1 |
Najran Cement |
|
30,000 |
1 |
Red Sea Housing Services Co. |
|
30,000 |
1 |
Bank AlJazira |
|
30,000 |
1 |
Halwani Bros. |
|
30,000 |
1 |
SABIC |
|
30,000 |
1 |
Jazan Development Co. |
|
30,000 |
1 |
National Gas and Industrialization Co. |
|
20,000 |
1 |
NADEC |
|
20,000 |
1 |
Northern Region Cement Co. |
|
20,000 |
2 |
Bawan |
|
20,000 |
1 |
The National Company for Glass Industries |
|
20,000 |
2 |
SABB Takaful |
|
20,000 |
1 |
Bank Albilad |
|
20,000 |
1 |
United Cooperative Assurance Co. |
|
20,000 |
1 |
Arabian Pipes Co. |
|
20,000 |
1 |
Saudi Vitrified Clay Pipes Co. |
|
20,000 |
1 |
Riyad Bank |
|
20,000 |
1 |
Al Hokair |
|
20,000 |
1 |
Saudi Kayan |
|
20,000 |
1 |
Al Alamiya for Cooperative Insurance Co. |
|
20,000 |
1 |
Dar Alarkan |
|
20,000 |
1 |
Altayyar |
|
20,000 |
1 |
Tabuk Cement |
|
10,000 |
1 |
City Cement |
|
10,000 |
1 |
Hail Cement |
|
10,000 |
1 |
Saudi Paper Manufacturing Co. |
|
10,000 |
1 |
Wataniya Insurance Co. |
|
10,000 |
1 |
SAMBA |
|
10,000 |
1 |
Saudi Industrial Investment Group |
|
10,000 |
1 |
Al Hammadi |
|
10,000 |
1 |
Saudi Arabia Refineries Co. |
|
10,000 |
1 |
Al Khaleej Training and Education Co. |
|
10,000 |
1 |
The Company for Cooperative Insurance |
|
10,000 |
1 |
Eastern Province Cement Co. |
|
10,000 |
1 |
Anb Insurance |
|
10,000 |
1 |
Chemanol |
|
10,000 |
1 |
Maadaniyah |
|
10,000 |
1 |
Saudi Pharmaceutical Industries and Medical Appliances Corp. |
|
10,000 |
1 |
Shaker Co. |
|
10,000 |
1 |
Saudi Enaya |
|
10,000 |
1 |
Al Abdullatif |
|
10,000 |
1 |
Al Sorayai Group |
|
10,000 |
1 |
Al-Ahlia Insurance Co. |
|
10,000 |
1 |
Umm Al-Qura Cement |
|
4,720,000 |
102 |
Total |
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