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Riyadh – The Capital Market Authority (CMA) granted Sarwa Company a Financial Technology Experimental Permit (FinTech ExPermit) to experiment Robo-Advisory Service.
The Robo-Advisory Service allows clients to get advice on securities or investment scheme through direct access to automated online platform or application, the CMA said in a statement on Tuesday.
Sarwa will be able to offer automated online discretionary investment management, where the clients can automatically make investments through the platform or the application by authorising the company's management to invest on the client’s behalf, within parameters and mandates agreed with the client, on an ongoing basis.
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