Mubasher: The Capital Markets Authority (CMA) dismissed a request by Al Madar Finance and Investment to withdraw from the Kuwait Stock Exchange (KSE).

The authority said that the refusal was due to not submitting the consolidated financial statements for the six months ended on 30 June 2016, as well as not holding an ordinary general meeting within two months from the regulatory approval date of the annual results, according to a bourse filing.

Earlier on 14 December 2015, the company’s shareholders approved a proposal to withdraw from KSE.