Lawsuits related to Mobily Compensation Value Expected to be Resolved

An array of cases lodged against Mobily company by more than 1,000 people is expected to be resolved, in the next coming quarter of the year to come, Adel Qabbani, Secretary-General of the Committee for the Resolution of Securities Disputes revealed.

Meanwhile the value of compensation for Al-Moajil company case, is to be set at SR40 million for about 410 investors, at the same time.

Several initiatives have been taken, most notably reducing the strategic index for litigation procedures, from 28-month, in 2016, to 8-month, in 2021, he added.

Announcement of penal decisions on the website of the General Secretariat, in addition to adopting digital shift, all contributed to promoting the resolution of securities disputes.

Related and data showed an increase in the value of compensation issued for those affected by securities’ errors and violations disputes, until the Q3 of 2021 by 128% compared to 2020, where the total compensation has stood at SR214 million, in favor of as many as 515 affected.