Advisory · Licensing & Setup

Get Licensed Faster. Avoid Expensive Missteps.

Expert guidance by Former Saudi Regulators. Go from confusion to clarity for any financial regulator, so you launch on schedule instead of restarting your application in nine months.
Regulator coverage
Licensing · Setup
SAMA
Saudi Central Bank
Banks, financing companies, payments
CMA
Capital Market Authority
Securities and capital market institutions
IA
Insurance Authority
Insurance and reinsurance
REGA
Real Estate General Authority
Real estate activities
Official licensing
FinTech sandbox permit
Stage 1 → Stage 2
Trusted by
One team

Every financial regulator, one team

Financing, securities, payments, real estate, insurance: whichever authority governs your business, our team of advisors have sat on the other side of the table. Our team covers the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), the Insurance Authority (IA), and the Real Estate General Authority (REGA), and has guided clients through both official licensing and FinTech sandbox permits. One team to handle all your licensing needs.

SAMA
Saudi Central Bank
Financing · Payments · Banking
CMA
Capital Market Authority
Securities
IA
Insurance Authority
Insurance
REGA
Real Estate General Authority
Real estate
Two routes

Official licensing vs FinTech sandbox: what’s right for you?

There are two different routes into the Saudi market, and picking the wrong one can cost you months and worse, years. Explore which licensing path may be right for you.

Route A

Official Licensing

A permanent license, assessed against the full regulatory standard.

Right if you're ready to operate at full scale from day one.
Route B

FinTech Sandbox Permit

A time-boxed trial, typically up to 2 years, to test your product under supervision.

Right if you need to prove a novel idea.
See the full comparison
Official Licensing
FinTech Sandbox Permit
What you need
Capital adequacy, governance, and full operational readiness.
A defined scope and testing plan, agreed with the regulator.
Applicability
Proven business models. If your business idea is already in the market, there is a greater likelihood you will need this.
Unique and novel business models that are unproven yet. If your business idea is unique, this might be the right approach.
Regulator stance
Mature and strict.
Experimental, built for innovation.
Duration
Permanent, renewable periodically.
6 months to 2 years, renewable.
Official Licensing
What you need
Capital adequacy, governance, and full operational readiness.
Applicability
Proven business models. If your business idea is already in the market, there is a greater likelihood you will need this.
Regulator stance
Mature and strict.
Duration
Permanent, renewable periodically.
FinTech Sandbox Permit
What you need
A defined scope and testing plan, agreed with the regulator.
Applicability
Unique and novel business models that are unproven yet. If your business idea is unique, this might be the right approach.
Regulator stance
Experimental, built for innovation.
Duration
6 months to 2 years, renewable.

We support both tracks end to end, from choosing the right route for your business to preparing the application and managing the regulator relationship through to approval.

Book a Free Consultation →
Two stages, eight milestones

Steps to launching your Financial Institution or FinTech

Getting a financial institution licensed and operating in Saudi Arabia happens in two stages, regulatory approval, then business commencement. Here's the path, milestone by milestone.

Stage 1 · Regulatory approval
Stage 2 · Business commencement
01 · Stage 1
Design the business
Business model, legal ownership, and close links.
02 · Stage 1
Structure the company
Entities, resources, and team structuring.
03 · Stage 1
Navigate the requirements
Regulatory requirements plus feasibility and market study.
04 · Stage 1
Submit & liaise
Application documents, regulator communications and representation.
Regulatory approval granted
05 · Stage 2
Formalize the entity
Articles of Association and registered persons requirements.
06 · Stage 2
Put policies in place
Policies, procedures, and cybersecurity requirements.
07 · Stage 2
Set up operations
Office, website, and insurance coverage.
08 · Stage 2
Get market-ready
Contracts, engagements, client classification and onboarding.
Stage 1 · Regulatory approval
Design the business
Business model, legal ownership, and close links.
Structure the company
Entities, resources, and team structuring.
Navigate the requirements
Regulatory requirements plus feasibility and market study.
Submit & liaise
Application documents, regulator communications and representation.
Stage 2 · Business commencement
Formalize the entity
Articles of Association and registered persons requirements.
Put policies in place
Policies, procedures, and cybersecurity requirements.
Set up operations
Office, website, and insurance coverage.
Get market-ready
Contracts, engagements, client classification and onboarding.

The result: you spend your energy building the business, not decoding two stages of regulatory process on your own.

Why Dal

Why work with Dal

Expertise

Delivered by former regulators with first-hand knowledge of the process, helping you avoid costly missteps.

Faster

We know how requirements should be met, which removes uncertainty and speeds up the process.

Success-oriented

Every detail matters. We make sure regulator comments are addressed properly, the first time.

End-to-end support

From initial planning to final approval, and beyond, we handle the process so you can focus on the business.

Proof

What our clients say

Dal transformed what is traditionally a complex licensing process into a seamless, end-to-end experience, executed with precision and unwavering attention to detail. What set them apart was their tailored approach, clear communication, and deep understanding of both our needs and our business. With Dal, licensing became more than a transaction, it became the foundation of a long-term strategic partnership.

WA
Waleed Almokbel
CEO of Capital Market Institution & Former CMA Manager
Licensing & Setup client
Move Confidently

Meet Our Experts

Meet our advisory bench of ex-CMA professionals and capital market professionals, all on your side.
Image of Muhammed Alhije
Mohammed Alhije, CFA
 Market Risk & Investment Expert
Former Head of the Market Stability Risk Unit at the Capital Market Authority and former Investment Expert at the General Organization for Social Insurance (GOSI). He Holds a Bachelor's degree in Actuarial Science from King Fahd University of Petroleum and Minerals and is a CFA Charterholder.
Image of Noaf Alsolai
Nawaf Alsolai
GRC, Internal & External Audit Expert
Expert of Internal Audit, and former expert in Compliance of Capital Market Institutions at the Capital Market Authority’s Capital Adequacy Unit. As a former external auditor at KPMG and worked at Saudi Industrial Devolopments Funds (SIDF), he holds several professional certifications in audit and compliance, including CMA 2, GRCP, and GRCA.
Ibrahim bin Nafjan
Ibrahim bin Nafjan
GRC, Licensing, and Inspection Expert
Former team leader in the inspection of capital market institutions, with 15 years of experience at CMA and its operations. Specialized in compliance, licensing, GRC, and inspection. Former team leader at the CMA licensing. Holds professional certifications: CCO, GRCP, ICWIM, and CME-2.
Malek Alkawas
Malek Alkawas
GRC & Internal Audit Expert
A financial market GRC and internal audit expert with 24 years of experience. Former Head of Risk Management at Alistithmar Capital, Yaqeen Capital, and Saudi Fransi Capital. Former Head of Internal Audit at Al Rajhi Capital. He holds the Certified Anti-Money Laundering Specialist (CAMS) certification.
Image of Abdur Rahman Almazyad
Abdulrahman Almazyad
GRC and Licensing Expert
Former Banking License Supervisor at SAMA with 7+ years of experience in licensing and regulatory supervision. Skilled in license approvals, compliance oversight, and regulatory alignment. Holds an MBA from University of Dallas, and professional certifications Certified Compliance Officer (CCO).
A image placeholder for the client.
Manal Kubrawi
AML & Compliance Expert
Over 17 years of experience as an ex-CMA expert and former Head of Compliance, AML, & CTF at Alistithmar Capital. At the CMA, her experience spanned investment funds, compliance, and offerings. She holds the Certified Compliance Officer (CCO) and ICCO (International Compliance) certifications.
A image placeholder for the client.
Dima Alhurib
Senior IPO Readiness Specialist
Former investment banking and private equity professional who has extensive experience preparing and qualifying several companies for listing on the public Saudi financial market. She holds a bachelor's degree in Finance and Investment from Imam Muhammad ibn Saud Islamic University.
A image placeholder for the client.
Jehad Alsuwayyid
Licensing Project Manager
Experience establishing and managing set up for numerous financial institution & FinTech licensing clients. He holds a Bachelor's degree in Actuarial Science and Financial Mathematics from King Fahd University of Petroleum and Minerals. He is also Certified in CME-1 and CME-2.
Image of Jehad Alsuwayyid
Ammar Bukhamseen
Accounting and Finance Expert
Accounting and finance professional with proven experience at CMS MENA, Deloitte, and Dar Al Arkan. Skilled in accounting, auditing, and business analysis. Holds a Bachelor’s degree in Finance from KFUPM and has successfully completed Part 2 of the Certified Management Accountant (CMA) certification.
FAQ

Licensing FAQs

The questions founders ask before their first call with us.

What's the difference between an official license and a FinTech sandbox permit?
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An official license is permanent (subject to renewal) and assessed against the full regulatory standard. A sandbox permit is a time-boxed trial, usually 6 months to 2 years, for testing a product under supervision before you're fully licensed.
Which regulators can Dal help me get licensed under?
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SAMA, CMA, the Insurance Authority, and REGA. If you're not sure which regulator applies to your business model, that's usually the first thing we help you work out.
How long does licensing typically take?
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Timelines vary by license type and regulator feedback. We manage the process end to end so nothing stalls waiting on your side.
Does Dal only help with the application, or also with getting operational afterward?
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Both. Stage 2 support covers everything from policies and procedures to getting setup, so you're actually ready to operate, not just approved to.

Launch on schedule, with former regulators on your side.

One free consultation is enough to tell you which route fits and what the path looks like.