The Saudi Arabia Capital Markets Authority announced that Al-WAA for Financial Technologies has completed the commencement of business requirements for a financial technology experimental permit to test robo-advisory. The robo-advisory experiment is being conducted under the Capital Market Law and its implementing regulations, as well as the Financial Technology Experimental Permit Instructions issued by the CMA Board. The permit relates to a CMA Board of Directors decision dated 05/04/2023G.
Saudi Arabia Capital Markets Authority2025-02-05
Saudi Arabia Capital Markets Authority confirms Al-WAA can begin robo-advisory testing under a fintech experimental permit
The Saudi Arabia Capital Markets Authority announced that Al-WAA for Financial Technologies has fulfilled the requirements for a financial technology experimental permit to test robo-advisory services. This experiment is conducted under the Capital Market Law and related regulations, following a CMA Board decision from April 5, 2023.