Saudi Arabia's CMA Licenses 1st Entity for Special Purposes

Saudi Capital Market Authority (CMA) logo
Saudi Capital Market Authority (CMA) logo
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Saudi Arabia's CMA Licenses 1st Entity for Special Purposes

Saudi Capital Market Authority (CMA) logo
Saudi Capital Market Authority (CMA) logo

Saudi Capital Market Authority (CMA) has licensed “Itqan Finance” as the first private-purpose entity to provide asset-backed debt instruments in accordance with the rules governing special purpose entities issued by the Authority.

This license is the first in Saudi Arabia to establish a facility of special purposes where the entity is legally independent and has the financial disclosure, and it is terminated when reaching the goal for which it was established.

One of the most important objectives of establishing a special purpose entity is to obtain financing through an alternative for bank loans and financial institutions. This is done by issuing debt instruments through a special purpose entity and transferring assets to the facility to convert asset-related risks or restricting commitments relating to debts' instruments.

It also aims to protect the rights of investors, holders of debt instruments, from the bankruptcy of entities associated with the enterprise as the sponsors or owners.

The move is complementary to the role of CMA in organizing and developing the financial market, in an effort to develop the sukuk market, debt instruments and diversify sources of finance for public and private sector projects, which are part of the Authority's strategy to facilitate financing in line with Saudi Financial Sector Development Program.

It is noteworthy that on 27 December 2017, the Authority issued the rules to regulate the establishment, licensing, registration, offering and management of special purposes entities and associated activities in the Kingdom.

On April 1, 2018, the rules regulating special purpose enterprises entered into force.



SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025
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SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

The Saudi Arabian Military Industries (SAMI), a Public Investment Fund company, announced on Sunday its participation in the International Defense Exhibition and Conference (IDEX) 2025 under the Saudi Pavilion led and organized by the General Authority for Military Industries (GAMI).

The exhibition is scheduled to take place from February 17 to 21 in Abu Dhabi, UAE.

The Saudi Pavilion will bring together leading Saudi government agencies and companies specialized in the field of military industries, where SAMI will showcase its latest products across its various divisions.

In a statement, SAMI said key exhibits will feature SAMI Land’s upgraded SAMI Light Armored Tactical Vehicle (SLTV) with new and improved specifications, and ROAYA, the Remote Turret—both cutting-edge products designed and built entirely in Saudi Arabia.

SAMI AEC will showcase its innovations in command, control, communications, and intelligence (C4I) systems, alongside other advanced systems and products.

As Saudi Arabia’s leading national defense partner, SAMI's presence at IDEX 2025 underscores its commitment to supporting Vision 2030’s goal of localizing 50% of the Kingdom’s defense spending.

"Through its participation, SAMI highlights the remarkable growth and transformation within the Kingdom’s defense sector, fostering innovation, empowering national talent, and strengthening Saudi Arabia’s position on the global stage," said the statement.