Riyadh – Mubasher: The Deputy Chairman of the Capital Market Authority (CMA), Abdullah Binghannam, elaborated that the financial service has clearly transformed wealth management.
On the slides of the 24 Fintech conference, Binghannam noted that 500 companies managed to raise more than SAR 3.80 billion in financing during the past five years.
He continued: We now have more than 245,000 clients in the management of managed portfolios, most of whom are under the age of 35, compared to a few thousand clients before the launch of this service."
Mohammed El Kuwaiz, Chairman of the CMA, recently stated that the 24 FinTech Conference highlights the Kingdom’s leading position in the fintech landscape.
