CMA Grants FinTech Experiment Permit to InvestSky for Social Trading, Approves Business Launch

The Capital Market Authority (CMA) has granted InvestSky Holding Limited, a Financial Technology Company, a permit to test Social Trading under its FinTech experimental framework. The company has also met all business commencement requirements, as approved by the CMA’s Board of Directors on 5 February 2024.

The authorization aligns with Saudi Arabia’s Capital Market Law (Royal Decree No. M/30, 6/2/1424 AH), its implementing regulations, and the Financial Technology Experimental Permit guidelines. The move supports the CMA’s efforts to foster innovation in financial services while ensuring regulatory compliance.