By innovation-sa on October 19, 2017 in News
Saudi market regulator loosens asset management rules
The Capital Market Authority (CMA), announced that Saudi Arabia’s markets regulator loosened its rules for licensing asset management and other investment firms.
The revised rules will
- Reduce requirements for obtaining a “management activity” license.
- Lower the minimum net assets required for a company to be considered an “investment company” from 50 million riyals ($13 million) to 10 million riyals ($3 million).
- Reduce the requirement for “management activities” from 50 million riyals to 20 million riyals.
- Permit two new types of activities: managing non-real estate investment funds and managing the portfolios of small but experienced investors.
Alarabiya – 1 October 2017