News

Saudi regulator issues first fintech licences

Start-upThe Saudi Capital Market Authority (CMA) has awarded licences to two local start-ups in a bid to kick start its financial technology sector. The securities watchdog issued the financial technology experimental permits (ExPermits) to Manafa Capital and Scopeer, both of which intend to launch equity crowdfunding investment services. The ExPermit regime was launched in December 2017 as part of the CMA’s Financial Leadership 2020 programme. The Manafa Capital and Scopeer licences are the first to be awarded. The CMA hopes the move will both broaden its capital markets and help to bridge the gap between new entrepreneurs and traditional funding methods for small businesses. The watchdog said it will receive applications for fintech licences later in the year. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.