Tatwir Aliddikhar Receives FinTech Permit to Test Robo-Advisory in Securities Business

The Capital Market Authority (CMA) has announced that Tatwir Aliddikhar for Financial Technology in Securities Business has fulfilled the necessary requirements to commence its FinTech experiment, focused on Robo-Advisory services.

This follows the issuance of a Financial Technology Experimental Permit, in accordance with the Capital Market Law, Royal Decree No. (M/30) dated 06/02/1424 AH, and its implementing regulations.

Tatwir Aliddikhar’s permit was granted by the CMA Board of Directors on December 26, 2022, as part of the regulator’s ongoing efforts to foster innovation in the financial sector. The Robo-Advisory experiment aims to explore automated financial advisory solutions within the securities business.