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RIYADH: Assets under management by institutions licensed by Saudi Arabia’s Capital Market Authority increased by 8 percent to reach SR757 billion ($201 billion) by the end of the second quarter compared to SR703 billion during the same period in 2021, said a report. The report issued by the Capital Market Authority provides detailed data on the entities that are subject to the
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The Saudi Arabia Capital Market Authority (CMA) Grants A Financial Technology Experimental Permit (FinTech ExPermit) To Sarwa To Experiment Robo-Advisory Service Date 06/01/2021 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 resolu...