The Saudi Capital Market Authority licenses two companies to practice investment management and trading funds.

The Saudi Capital Market Authority announced in two separate statements on the Saudi stock exchange platform on Monday that it has approved the licensing of Watheq Financial Company and Nama Portfolio Financial Company to practice investment management and operate funds in the field of securities, following the fulfillment of both companies' requirements to commence operations. The Authority clarified in the statement that the licensing comes in accordance with the Capital Market Law issued by Royal Decree No. M/30 dated 2/6/1424 Hijri. It was mentioned that the decision of the Authority's Council regarding the approval of the licensing for both companies to engage in investment management and fund operation activities will take effect on May 8, 2024, and August 18, 2024, respectively for Nama Portfolio Financial Company and Watheq Financial Company.