​Based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H, 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 DFN RoAd Company a Financial Technology Experimental Permit (ExPermit) to experiment Robo-Advisory service.

Based on this permit, the Company will be able to experiment Robo-Advisory Service, which allows investors to get advice on securities or investment products through direct access to automated online platform (or application). Additionally, The company is able to offer automated online discretionary investment management, where the investors can automatically make investments through the platform or the application by given the management of the company the responsibility to invest on their behalf, within parameters and mandates agreed with the investor, on an ongoing basis. The service is provided through an electronic online platform (or application) owned and monitored by the management of the company. 

CMA would like to highlight that this permit coincides with the launch of the third batch for ExPermit of FinTech innovations which was announced in 25/11/2019, related to securities businesses that fall under the CMA's supervision. The CMA has opened the door for the fourth batch of applications for FinTech ExPermits on 01/10/2020.