Post by MMM on Aug 31, 2009 7:39:45 GMT 4
Saudi mkt regulator fines Bank Al Jazira
Aug 30, 2009
Saudi Arabia's Bank Al Jazira was fined 100,000 Saudi riyals ($26,667) on Sunday for missing a disclosure deadline in the second quarter.
The Capital Markets Authority (CMA) levied the fine for the failure to disclose full financials last quarter, the regulator said in a statement on the Saudi bourse website.
Bank Al Jazira's second-quarter net profit rose 21 percent to 121 million riyals compared with a year earlier.
Its shares closed down 2.6 percent Sunday at 18.95 riyals before the fine was announced.