The Saudi Capital Market Authority has granted Tarmeez Capital with a fintech experimentation permit to test its offering and investment on the debt instruments platform.
Two years after receiving a financial technology experiment permit (FinTech ExPermit) from the Saudi Capital Market Authority (CMA) in 2020, Mudaraba Financial Company (MFC) has officially launched its Sukuk crowdfunding platform, which issues Sukuk on behalf of MSMEs as an alternative financing tool utilizing capital market instruments.