Friday, February 3, 2023
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News FlashMalaa Financial Technology obtains fintech permit

Malaa Financial Technology obtains fintech permit

The Saudi Capital Market Authority (CMA) has granted Malaa Financial Technology for Securities Business Company with a fintech permit to test robo-advisory services as the latter has met the required business criteria.

Earlier in February, CMA terminated the fintech permit of UAE-headquartered robo-advisor Sarwa at its request. Sarwa expanded into Saudi Arabia in January 2021.

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