According to a statement from the Financial Regulatory Authority, there are companies claiming to offer shares and distribute dividends without having necessary licenses and approvals.
The Capital Markets Regulatory Authority warned all investors in Sudan to exercise caution when investing in companies and business that specialize in securities.
The authority explained that this extended to marketing stocks, investment funds, and investment portfolios.
In a “warning” statement on Wednesday, the authority said that some companies claim to offer shares and distribute profits without having obtained the required licenses and approvals from the Capital Markets Regulatory Authority.
The Financial Regulatory Authority considered this in violation of Articles 19 and 29 of the Capital Markets Regulatory Authority Law of 2016.
The authority warned all savers and investors against dealing with suspicious companies, business names, and websites.
It also indicated that some of these businesses’ involves unlicensed sale and marketing of shares and sukuk, and management of investment portfolios in securities.
It stated that these activities are promoted through advertisements on the Internet and social media.
The Capital Markets Regulatory Authority said it is issuing this warning in order to prevent investment risks.