REGULATION WATCH-

#1- Investors can now make returns on deposits held in their client accounts at capital market institutions, according to a Capital Market Authority statement. The fresh amendment (pdf) to the Capital Market Institutions Regulations (pdf) permits institutions to invest client deposits in short-term, low-risk products to generate return. This is provided the institution obtains “the client's prior written approval to receive this service and its terms.” This shift provides clients with more leeway to earn returns on their investments, offering greater flexibility compared to the original rule, which prohibited any payable returns on client money held in client accounts.

#2- The cabinet has approved new regulations on donation collection, limiting activities to licensed, Saudi-operated entities, according to Umm Al-Qura (here and here). Donations must now be made through approved bank accounts, electronic channels, or checks. Violations can result in fines of SAR 100k to SAR 500k or up to two years in prison. The regulations will take effect 180 days after their publication in the official gazette.

M&A WATCH-

Tadawul-listed Almunajem Foods raised its share in Balady Poultry to 40%, after wrapping up the acquisition of an additional 23% stake in a SAR 181.3 mn private transaction, a disclosure to Tadawul showed.

HOSPITALITY-

Anaam Holding Group agreed to sell its Hyatt Al Fersan Hotel in Al Jouf to an individual investor for SAR 19.1 mn, it said in a filing to Tadawul. The proceeds are earmarked to support the company’s working capital.

REAL ESTATE-

PIF unit + King Street Partner to boost Saudi real estate financing: PIF-owned Saudi Real Estate Refinance signed an MoU with US-based asset manager King Street Capital Management to boost liquidity and diversify financing solutions for the Saudi secondary real estate market in a bid to attract foreign investors, according to a press release. The MoU will also support the securitization of Shariah-compliant residential real estate loans.

TECHNOLOGY-

Saudi to get its first game development, virtual worlds diploma: Tuwaiq Academy and Meta are set to launch Saudi Arabia’s first game development and virtual worlds diploma on Sunday, 15 September, at the Academy's HQ in Riyadh, according to state news agency SPA. The program will offer more than 800 training hours across two semesters. The program wraps up on 29 May 2025. Registration is available here.

On the menu: The program’s curriculum includes courses on 3D modeling, augmented, mixed, and virtual reality applications, C# programming language, Unity game engine, and Web 3 technologies.

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