Arab Finance: The Financial Regulatory Authority (FRA), headed by Islam Azzam, granted licenses to eight companies to conduct non-banking financial activities, according to a statement.

This comes as part of the authority’s efforts to boost the efficiency and competitiveness of sectors under its supervision, while expanding the scope of financial services and broadening the customer base.

FRA approved the establishment of Beltone Real Estate Asset Investment Fund, as well as Lantis Company for managing securities portfolios, underwriting promotion, subscriptions, and investment funds.

Moreover, Business Community Company was also granted a license to engage in venture capital (VC) activities.

Meanwhile, Al Salem Holding Company and Amjad Holding Company were licensed to participate in the establishment of companies issuing securities or in capital increases.

FRA also granted its nod to SAFE Company to carry out securities promotion and underwriting activities, in addition to managing real estate investment funds.

Medmark obtained a temporary license to operate as a third-party administrator (TPA) for healthcare programs, as per the Unified Insurance Law No. 155 of 2024 and FRA Decision No. 229 of 2025 regulating the activity.

Finally, Malaz received the FRA’s approval to engage in the consumer finance sector. The company submitted its request to the authority before the issuance of Decision No. 43 of 2026 in February, which suspended the acceptance of new applications and preliminary approvals for companies seeking a license to operate in the consumer finance sector.