The Saudi Capital Market Authority (CMA) has announced December 31, 2024, as the final deadline for applications under the eighth review round of the Financial Technology Innovation Testing License (FinTech License). Applications received after this date will be considered in the next review round.
The CMA encourages interested parties to apply, ensuring submissions meet the required criteria. Applicants must present financial technology products related to securities activities regulated by the CMA and in an advanced development stage suitable for testing within the FinTech Lab.
This announcement underscores the CMA’s ongoing commitment to supporting financial technology innovation and fostering growth within the capital market.
Since the launch of the FinTech Lab in 2018, the CMA has issued 53 FinTech Testing Licenses as of mid-2024. These licenses have introduced new investment models to the market, expanded investment options for various investor categories, and improved access to financing through the capital market.
