Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Thursday fined Mediterranean and Gulf Insurance and Reinsurance Co. “Medgulf”.

The fine worth SAR 180,000 ($47,988) was imposed after the company violated the listing rules and corporate governance regulations, the CMA said in a statement to the Saudi Stock Exchange (Tadawul).

The violation was the financial years 2008 until 2017.

Medgulf’s stock closed Thursday in the green, adding 2.13% to SAR 15.36.

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