Cryptocurrency
Saudi securities regulator awards first two fintech licenses via @reuters
Reuters reports, “Saudi Arabia’s securities regulator approved its first two financial technology licenses on Tuesday, part of a drive to develop a fintech sector in the Arab world’s biggest economy under reforms designed to reduce reliance on oil exports. “The Capital Market Authority approved licenses allowing Riyadh-based start-up Manafa Capital and another firm, Scopeer, to offer […]
Reuters reports, “Saudi Arabia’s securities regulator approved its first two financial technology licenses on Tuesday, part of a drive to develop a fintech sector in the Arab world’s biggest economy under reforms designed to reduce reliance on oil exports.
“The Capital Market Authority approved licenses allowing Riyadh-based start-up Manafa Capital and another firm, Scopeer, to offer crowdfunding investment services on a trial basis, the CMA said on Tuesday.
“Individual investors will use electronic platforms operated by the companies to fund small and medium-sized enterprises in exchange for shares in those enterprises.”