The Capital Markets Authority (CMA) has announced the end of the initial approval period granted to Sharq Investment Company on May 29, 2024, for licensing as a collective investment scheme manager, according to Decision No. (68) of 2024 regarding the licensing request submitted by Sharq Investment to conduct securities activities, issued on May 30, 2024.

Therefore, the request for a securities activities license submitted by Sharq Investment Company will be considered null and void as of the end of the initial approval on November 28, 2024, in accordance with Article 1-7 of the fifth book (Securities Activities and Registered Persons) of the executive regulations of Law No. 7 of 2010 regarding the establishment of the Capital Markets Authority and the regulation of securities activities and its amendments.

It was clarified that if the applicant fails to submit the required documents and information within the timeframe specified by the Authority in the notification, without an acceptable excuse, the application will be considered null and void.