The Capital Market Authority Publishes the Draft Instructions on the Direct Financing Investment Funds for Public Consultation

​As part of the Capital Market Authority's ("CMA") strategic objectives to develop the capital market, and based on the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424 H, the CMA Board issued its resolution to publish the Draft Instructions on the Direct Financing Investment Funds ("Draft Instructions") for public consultation for a period of (15) calendar days ending on 15/7/1443H corresponding to 16/2/2022G.

The Draft Instructions aims to regulate the offering of the units of investment funds that are established for direct financing, and the management of these funds and their operations, including the conditions for granting direct financing to the beneficiary, investment limitations, and additional duties on the fund manager in that regard.


The CMA, with full gratitude, would receive the opinions and comments of relevant and interested persons, through any of the following:

  1. The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the National Competitiveness Center, through the following link: (​).
  2. The prescribed form through the following email: (
    All comments will be taken into full consideration for the purpose of finalizing the Draft Instructions.

    The Draft Instructions can be viewed via the following link: