CMA Grants InvestSky Holding a Permit to Pilot Social Trading Service

The Capital Market Authority (CMA) has announced that InvestSky Holding Limited, a financial technology company, has fulfilled the requirements to commence operations under the permit granted by the CMA Board on February 5, 2024, to pilot a social trading service.

This authorization is based on the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H, as well as its implementing regulations and the FinTech experimental permit instructions issued by the CMA Board.

This move underscores the Authority’s commitment to fostering innovation in financial markets, enabling companies to test new FinTech solutions in a controlled environment aimed at enhancing market transparency and efficiency.