The Capital Markets Authority (CMA) issued Decision No. (173) of 2025 on Monday, granting a private placement marketing license for a collective investment scheme established outside the State of Kuwait, awarded to Watani Investment Company (NBK Capital) , a wholly owned subsidiary of the National Bank of Kuwait.

The license allows NBK Capital to market 15,000,000 shares (fifteen million shares only) of the Leasing and Finance Fund 45 LTD Islamic, through private placement within Kuwait.
The fund was established in the Cayman Islands.

•    The offering price is USD 10 per share, with a subscription fee of up to 2.25% of the amount invested, payable once at the time of subscription.
•    The shares will be marketed exclusively to professional clients, as defined in Book One (Definitions) of the Executive Regulations of Law No. 7 of 2010 regarding the establishment of the Capital Markets Authority and the regulation of securities activity, and its amendments.
•    NBK Capital and National Bank of Kuwait will handle the subscription process.
•    The objectives of the collective investment scheme are outlined in the prospectus.
•    The marketing license is valid for one year, starting from the date the CMA license certificate is issued and after the required fees are paid.
•    Fees must be paid within one month from the date of the decision; failure to do so will render the decision null and void.
•    Relevant authorities are instructed to implement this decision accordingly, effective from its date of issuance, and it will be published in the Official Gazette.