The Extraordinary General Assembly of Kuwait Pillars Holding Company (KPFI) , held on Wednesday, September 3, 2025, approved a proposal to cancel the following licensed securities activities granted by the Capital Markets Authority (CMA):
- Investment portfolio manager
- Collective investment scheme manager
- Investment advisor
- Subscription agent
- Custodian
- Investment controller
The company stated during the meeting that the reason for this decision was the non-utilization of the licensed securities activities over the past period, in addition to the aim of rationalizing expenses and costs associated with these activities.
The General Assembly also approved:
- A proposal to cancel financial services activities subject to the supervision of the Central Bank of Kuwait, and
- A proposal to convert the company’s legal structure to a holding company, along with amending the company's Articles of Association and Memorandum of Incorporation accordingly.
As a result, an amendment was made to:
- Article 2 of the Memorandum of Incorporation, and Article 1 of the Articles of Association, as follows:
Text Before Amendment:
“The name of the company is Kuwait Pillars for Financial Investment (Closed Kuwaiti Shareholding Company).”
Text After Amendment:
“The name of the company is Kuwait Pillars Holding (Closed Kuwaiti Shareholding Company).”