Saudi CMA launches fifth round of fintech 'sandbox' licenses

The authority said it will accept applications for financial technology test permits from firms until December 15

  
Riyadh, Saudi Arabia.

Riyadh, Saudi Arabia.

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RIYADH: The Saudi Capital Market Authority (CMA) has launched its fifth round of fintech sandbox licenses, the Saudi Press Agency reported.

A sandbox, established through the regulator’s Financial Technology Lab, allows fintech startups and other firms to conduct live experiments under its supervision.

The authority said it will accept applications for financial technology test permits from firms until December 15.

The body launched its first fintech sandbox in February 2018, handing out 17 permits across five different product areas that included social trading platforms and automated advisor services.

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