Fintech and Blockchain in Saudi

COMMENTS: Saudi regulators have just issued the first two licenses for crowd funding services companies, and more are on the way.
In a nutshell, Crowd Funding is a growing novel form of financing new companies and projects bypassing the investment companies, brokers, banks, lawyers and all the other service providers who end up with a hefty chunk of fees.
Crowd funded operation offer their projects to the public on the internet utilizing Blockchain platforms (and possibly crypto-currencies) and investors pay directly to their bank (or crypto) accounts… end of story.
This opens a lot of possibilities for economic growth, especially in the small and medium sized enterprises sector. However, it also opens possibilities for fraud and mismanagement and hence, needs to be closely regulated and monitored.

GENERALLY: Positive
NEGATIVE FOR: If not regulated and supervised properly.
POSITIVE FOR: The Saudi economic diversification plans
IMPACT POTENTIAL: Medium
TIME SCOPE: Medium and Long Term

READ ORIGINAL:
http://gulfbusiness.com/saudi-securities-regulator-awards-first-two-fintech-licences/

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One thought on “Fintech and Blockchain in Saudi”

  1. استاذ مروان،
    بدايةً، شكراً على جهودك الطيبه في تسليط الضوء على كثير من المستجدات والاحداث الاقتصاديه المهمه وكذلك إبداء رأيك بها.
    الرجاء إعطاء وجهة نظرك فيما اذا كان الوقت مازال مبكراً لدخول اسواقنا بهذا النمط من التمويل (Crowd Funding) عن طريق ال “بلوك شين” ، نظراً لحداثته وعدم اكتمال القوانين لتنظيمه على مستوى العالم، وكذلك تحديد التزامات وحقوق كلٍ من المستفيد من التمويل (صاحب المشروع) والممول ( المستثمر).
    خاصةً مع انتشار عمليات النصب التي يقع بها كثير من الأفراد الباحثين عن مشاريع استثماريه لتوظيف فائض اموالهم، او ربما الباحثين عن الثراء السريع.

    ولك خالص التحيه،
    مصطفى بوحمد

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