The Saudi Capital Market Authority will increase the funds invested …

(MENAFN) Referring to CMA Deputy Under Secretary for Strategic and International Affairs Ahmed Al-Enezi, SPA said the Saudi Capital Markets Authority (CMA) is seeking to double the funds invested through managed channels of SR 800 billion ($ 213 billion).

Al-Enezi further said that the CMA plans to provide more jobs in the financial sector by increasing assets under management in innovative funds, portfolios or other financial tools including private equity funds, venture capital and financial technologies.

He also said that Saudi Arabia has invested in infrastructure, including the Saudi Fintech initiative, launched by the Saudi Central Bank in partnership with the CMA in April 2018, as a catalyst for the development of the FinTech sector in the Kingdom.

The official added that the Fintech accelerator supports capacity building and talent needed by FinTech companies and supports entrepreneurs at every stage of their development.

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