The Saudi Arabia Capital Market Authority has opened a 30-day public consultation on draft updates to the Financial Technology Experimental Permit Instructions. The proposed changes would clarify and make the regime more flexible, with new provisions on how applications are submitted, when rejected applicants may reapply, a broader scope for covered fintech activities, and added governance and business continuity requirements for fintech companies. Under the draft, a previously rejected applicant could resubmit only after at least three months from notification of the rejection decision and only if all observations on the earlier application have been addressed. The proposal would also expand the scope of financial technology to include products and services based on technological solutions that aim to provide financial services related to securities business or the capital market. Additional provisions are intended to strengthen supervision and oversight of authorized entities and improve the governance and operational resilience of fintech firms. The consultation runs until 27 May 2026. Comments from individuals, government entities, private sector participants, and CMA-supervised entities will be considered before the final draft is approved.

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