Mubasher: The board of Arzan Financial Group for Financing and Investment decided to submit a licensing request to the Capital Markets Authority (CMA) to add the Market Maker activity to the company’s portfolio.
During its meeting on Monday, the board of directors also recommended not to disburse any dividends to shareholders for the fiscal year (FY) ended 31 December 2019, a decision that is subject to the approval of the general assembly meeting, according to a stock exchange statement on Monday.
Moreover, current board members have resigned for the remaining period of the 2017/2019 term.
In 2019, Arzan Financial’s net profits slid by 57% to stand at KWD 1.09 million from KWD 2.53 million a year earlier.
