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The Capital Market Authority (CMA) permits the Fintech Experiment application submitted by Mudaraba Capital Company to establish a platform for offering and investment in debt instruments

​Based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 2/6/1424H, and reference to the Financial Technology Experimental Permit Instructions issued by CMA in 10/01/2018, which aims to provide a regulatory framework that is conducive for the innovation of Financial Technology (FinTech) in the capital market within the Kingdom. In relation to this, the CMA Board of Commissioners issued its resolution to grant Mudaraba Capital Company a Financial Technology Experimental Permit (ExPermit) to establish a platform for offering and investment in debt instruments.

Based on this permit, Mudaraba Capital Company will enable SMEs to obtain the required funding by arranging the offering of Sukuk to finance projects, and offering them to the collective investors registered in the platform.