The Capital Markets Authority (CMA) announced today, Thursday, October 16, the expiry of the preliminary approval period granted to Rasameel Investment Company for the license to operate as an Unlisted Securities Broker, in accordance with Decision No. (60) of 2025 regarding the license application submitted by Rasamail Investment to engage in securities activities, dated April 14, 2025.

The Authority stated that, based on this, the license application submitted by the company to engage in securities activities shall be considered null and void as of the expiration date of the preliminary approval on October 15, 2025, in accordance with Article 1-7 of Book Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulation of Securities Activities and its amendments.

That article stipulates that if the applicant fails to submit the required documents and information within the period specified in the Authority’s notice, without an acceptable excuse from the Authority, the application shall be deemed as if it had never been submitted.