The Board of the Capital Market Authority,
based on the Capital Market Law issued by Royal Decree D/30 dated 2 Jumada Al-Thani 1424 [1 August 2003],
hereby decides
(a) The Sharia Governance Instructions in Capital Market Establishments is hereby adopted in accordance with the form attached, and comes into force from the date of its publication.
(b) As an exception to the provisions of paragraph (a) of this decision, article 3(2), 3(7) and 8(6) of the Sharia Governance Instructions in Capital Market Establishments apply as of 13 Dhu Al-Hijjah 1444 corresponding to 1 July 2023.
(c) The content of paragraphs (a) and paragraph (b) of this decision must be announced on the websites of the authority and the Saudi Tadawul Electronics Company.
The Board of the Capital Market Authority,
Member of the Board of the Capital Market Authority
Khalid bin Mohammed Al-Sulaie
Member of the Board of the Capital Market Authority
Khalid bin Abdulaziz Al-Humoud,
Member of the Board of the Capital Market Authority
Ahmed bin Rajeh Al-Rajeh,
Vice Chairman of the Board of the Capital Market Authority
Yusuf bin Hamad Al-Balihid,
Chairman of the Board of the Capital Market
Mohammed bin Abdullah Al-Kuwaiz
Issued on: 23/11/1443
Corresponding to: 22/6/2022
Published in Umm Al-Qura 4971 issued on 24 February 2023.