Saudi gives ‘experimental permits’ for two robo-advisors, including Shariah-compliant Wahed
Saudi Arabia’s capital market regulator has allowed two firms to test their robo-advisory services as part of efforts to encourage the use of financial technology in the kingdom.
Haseed Investing Company and Wahed Capital have been granted “experimental permits” under the Capital Market Authority's FinTech ExPermit scheme.
The two firms will be allowed to test their robo-advisory services through their online platforms, the regulator said in a statement on the Saudi stock exchange on Tuesday.
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