Regulator fines Saudi Fransi 50,000 riyals

Cairo: Saudi Arabia's Capital Market Authority, or CMA, said yesterday it fined Banque Saudi Fransi 50,000 Saudi riyals (Dh49,000) for contravening the rules of the Arab world's largest bourse.

The lender, part-owned by France's Credit Agricole SA, was fined for not informing the regulator on time about the change in its senior management, CMA said in a statement posted on the Saudi bourse website.