Saturday, April 13, 2024
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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