The CMA Calls for Public Consultation on Updating the Financial Technology Experimental Permit Instructions

​​The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the draft update to the Financial Technology Experimental Permit Instructions, for a period of 30 calendar days ending on 10/12/1447, corresponding to 27/05/2026.

The proposed update aims to enhance clarity and flexibility in the provisions of these Instructions, thereby supporting innovation in the financial sector and enabling fintech solutions.

Among the proposed amendments was the introduction of certain regulatory provisions related to the application submission mechanism and the controls for resubmitting a permit application in the event it had been previously rejected. These provisions require that at least three months elapse from the date the applicant is notified of the rejection decision, and that all observations recorded on the previous application be addressed upon resubmission.

In its Draft, the CMA set out a number of regulatory provisions aimed at enhancing the efficiency of supervision and oversight of authorized entities, most notably requiring the expansion of the scope of financial technology to include products and services based on technological solutions that aim to provide financial services related to securities business or the capital market.

The Instructions also include proposed regulatory provisions to enhance the governance and efficiency of fintech companies, and introduce business continuity requirements, thereby contributing to the stability of the capital market and enhancing investor confidence.

The CMA emphasized that the comments of relevant and interested persons, including individuals, government entities, the private sector, and CMA's supervised entities, shall be taken into full consideration for the purpose of approving the final proposed Draft, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following:

• The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the Saudi Competitiveness & Business Center through the following link: istitlaa.ncc.gov.sa.
• The prescribed form through the following email: Laws.Regulations@cma.org.sa 
  The Draft can be viewed via the following links:
  The Draft Updates to the Financial Technology Experimental Permit Instructions

    Prescribed form for providing comments ​