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Mudaraba Fintech application receives experimental permit

Mudaraba Fintech application receives experimental permit
Capital Market Authority (CMA)

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has granted Mudaraba Capital company a financial technology experimental permit (ExPermit), according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The permit allows the company to establish a platform for investment in debt instruments.

The decision comes in line with Saudi Arabia’s regulatory frameworks for the innovation of financial technology (Fintech) in the capital market.

Based on the permit, Mudaraba Capital Company will enable small and medium-sized enterprises (SMEs) to obtain required funding by arranging the issuance and offering of Sukuk through the platform.