Saudi Capital Market Authority (CMA)
Do I need a licence for equity crowdfunding in Saudi Arabia?
Content reviewed 2026-08-14 · How we check sources
Short answer
Yes. Equity crowdfunding is a securities activity within the Saudi Capital Market Authority (CMA) framework, and a platform facilitating securities crowdfunding must operate through the appropriate CMA-authorised capital-market structure and comply with the applicable securities-offering rules.
What this means
The CMA's Rules on the Offer of Securities and Continuing Obligations expressly address securities crowdfunding and offerings through a capital market institution authorised to conduct the relevant arranging activity. Equity issued through a crowdfunding platform is therefore not simply a technology marketplace outside the securities perimeter.
Do not use the shortcut 'equity equals CMA, debt equals SAMA'. Debt instruments offered as securities can also sit within the CMA capital-markets framework, while a lending or financing model can engage SAMA. The legal nature of the instrument and the activity performed by the platform determine the regulator.
If a platform also handles payments or provides financing alongside the securities activity, separate SAMA-regulated activities may arise. The securities licence does not automatically cover those adjacent functions.
Official sources
Saudi CMA — Rules on the Offer of Securities and Continuing Obligations ↗Saudi CMA — FinTech / Experimental Permit activities ↗Ask with your entity, activity and regulator.
Regulatory research, not legal advice. This answer has the scope and review date shown above; your institution decides applicability.