Saudi Arabia’s Capital Market Authority Awards First Two FinTech Licenses

henry-be-186289-unsplash
FT
0
  • Saudi Arabia’s securities regulator, Capital Market Authorities (CMA) approved its first two FinTech licenses on Tuesday, in a bid to develop the FinTech sector

 

  • Both Scopeer and Manafa Capital were given a license to offer equity crowdfunding platforms, allowing investors to participate in funding small and medium size enterprises in exchange for shares

 

  • In February, Saudi Arabian Monetary Authority (SAMA), the Saudi central bank signed an agreement with Ripple to help banks improve their payments infrastructure.

Related Blogs

Leave us a comment