The Emir of the Asir region, Prince Turki bin Talal, directed the formation of a committee to find out the needs of investors from the people of the region who have been issued legal rulings once morest an investment company, until the implementation of the rulings and the receipt of their financial rights.
This came during his meeting with the Principality Court; A number of investors who have final legal rulings issued by the Appeal Committee for Securities Disputes, in the presence of the Chairman of the Board of the Capital Market Authority, Muhammad Al-Quwaiz, and the relevant parties.
Prince Turki said that ensuring the rights of individuals is one of the basic tasks that fall on the emir of the region, stressing: “Justice and guaranteeing rights is the religion of the wise leadership.”
On the other hand, a coordination meeting was held between the Chairman of the Board of the High Market Authority and the Chairman of the Board of Supervisors of the company to discuss a mechanism for addressing the situation of those affected in light of the issuance of judicial rulings, and the issuance of the decision of the Committee for the Resolution of Securities Disputes, which includes obligating the company to appoint certified accountants to count all investments and the number of investors in them. and the total value of the profit or loss.
The decision included setting up a special mechanism under the supervision of the Capital Market Authority to ensure the liquidation of the company’s investment assets and the return of the capital of all investors inside the Kingdom.
For its part, the company presented during the meeting a declaration and a commitment to implementation, while the Capital Market Authority announced to investors that it had initiated procedures for implementing the aforementioned decision in order to protect the rights of investors.
A number of citizen investors had filed complaints once morest the company, complaining regarding the lengthy processing of procedures to recover their rights with the company.
