Title: Commencement of the Evaluation Period for the Initial Implementation Phase of Module Nineteen (Financial Technologies) of the Executive Bylaws of Law No. 7 of 2010 and its amendments.

As part of the Capital Markets Authority's (CMA) role in regulating and developing regulatory frameworks related to financial technologies, and its keenness on the continuous communication and transparency with the public investors and concerned and interested stakeholders regarding the provisions and requirements of Module Nineteen (Financial Technologies) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, and based on Resolution No. (181) of 2023 Regarding The Launch of the Initial Implementation Phase of Module Nineteen (Financial Technologies) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their Amendments, issued on 28/12/2023.

The CMA announces the commencement of the evaluation period for the initial implementation phase on 02/07/2025, which is part of the integrated system of the initial implementation phase that aims to evaluate the efficiency of the regulatory framework implemented on the financial technology services included in Module Nineteen (Financial Technologies), and to collect and analyze the operational, technical, and regulatory observations to ensure the effectiveness of the CMA's financial technologies regulatory framework.

In this context, the CMA would like to note that the receipt of applications for registration in the CMA's Securities-Based Fintech Registry for the provision of financial technology services listed in Module Nineteen (Financial Technologies) will be announced after the end of the evaluation period in accordance with the relevant instructions issued by the CMA, reflecting market developments and needs.

The CMA values the cooperation of all relevant parties in supporting the efforts of developing the securities-based financial technology sector in line with best international practices and local market needs.