After establishing itself as an innovative asset management firm in the UAE under the regulation of ADGM, FinaMaze is set to enter the Saudi Arabian financial market to propagate financial innovation across the region.
FinaMaze’s expansion to Saudi Arabia takes place under the selective Fintech Saudi Regulatory Accelerator Program. Governed by a committee consisting of the Saudi Arabian Monetary Authority and the Capital Market Authority, Fintech Saudi is an initiative under the Kingdom’s Financial Sector Development Program as part of the Saudi Vision 2030.
With this latest selection, FinaMaze is set to be part of Fintech Saudi’s ecosystem which develops initiatives that support and encourage the growth of its industry within the country, spreads fintech awareness, as well as organizes events that promote networking opportunities to support the development of the fintech community.
Fintech Saudi also seeks to achieve its aim of transforming Saudi into a thriving fintech hub by supporting the development of the infrastructure required for growth of the fintech industry, building capability and talent required by fintech companies, and supporting fintech entrepreneurs at every stage of their development.
FinaMaze has carved a niche for itself as a disruptor that uses innovative solutions in providing powerful, cost-effective and highly-customized smartfolios to the benefit of investors; and so, there is no question about the value addition that the wealth management advisory is set to add to the Saudi Fintech ecosystem.
“After our development in the Abu Dhabi Global Market (ADGM), FinaMaze grows beyond the borders! In Saudi Arabia, we will develop our strategic presence under the guidance of the selective fintech Fintech Saudi and the Capital Market Authority,” said Mehdi Fichtali, CEO and Founder of FinaMaze concerning the asset management firm’s latest milestone.
The Kingdom’s fintech market is expected to reach transaction values of more than USD 33 billion by 2026 and the market is expected to grow annually by 15% according to regional data available. In this context, FinaMaze’s expansion brings the latest AI innovation to the ecosystem, opening access to investments to the Saudi investors.