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RIYADH, SAUDI ARABIA –
Media OutReach Newswire – 15 October 2024 – Sahm Capital proudly announces it has successfully met all business commencement requirements to conduct Arranging and Managing Investments, as well as Operating Funds Activities in Securities, licensed by the Capital Market Authority (CMA). With this approval, Sahm Capital now holds all necessary regulatory approvals to operate as a fully integrated financial company in the Kingdom of Saudi Arabia.
This achievement comes just one year after receiving licenses for
Dealing,
Advising, and
Custody, underscoring the company’s rapid growth and commitment to offering comprehensive financial services in the Saudi market. With these latest licenses, Sahm Capital becomes
the first fintech-driven financial company to achieve full CMA approval in the Kingdom. This significant achievement reflects Sahm Capital’s full compliance with the Kingdom’s stringent regulatory framework and highlights its dedication to maintaining the highest standards of trust, security, and transparency.
Hadeel Bedeeri, General Manager at Sahm Capital, remarked on the importance of this milestone:
“Receiving full regulatory approval from the CMA is a pivotal moment for Sahm Capital. With these licenses, we can now offer a comprehensive suite of services, from dealing and managing assets to advising and custody. Our goal is to elevate market standards, build trust, and actively support the dynamic growth of Saudi Arabia’s financial sector in alignment with Vision 2030. We are excited about the opportunities ahead and ready to make a lasting impact.”
Founded in 2022, Sahm Capital has quickly established itself as a trailblazer in the financial service industry. In December 2023, the company launched the
Sahm App, a proprietary all-in-one trading platform tailored to Saudi investors. Since its launch, the Sahm App has secured a spot among the top three free finance apps in the Kingdom, contributing to Sahm Capital’s position as the fastest-growing brokerage in Saudi Arabia.
With the completion of these full licenses, Sahm Capital is positioned as a key player in Saudi Arabia’s rapidly evolving financial sector. The firm’s ability to offer the complete range of financial services, backed by independent technological research and development capabilities, ensures that clients have access to an all-inclusive financial solution tailored to meet their diverse investment needs.
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The issuer is solely responsible for the content of this announcement.
